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The guideline is approved after constant drops in fuel prices, mainly ethanol and gasoline. However, Petrobras should not reduce the values.
during the last Wednesday, July 27th, o Petrobras Board of Directors approved a new price guideline that will allow Petrobras to supervise the amounts charged for fuels, such as gasoline and diesel, on a national scale. This will allow for practical execution of your pricing policies. However, according to the state-owned company, it is estimated that this do not directly influence current values charged.
Briefly, the guideline only reformulates the existing policies approved in 2016, during the Temer government, and allows for greater control over the changes made in a quarter. The oil company said that the decision to approve this new guideline will allow for greater management on cash returns and good market practices.
Petrobras guideline should not change existing prices
The directive approved by Petrobras, however, is far from changing existing prices that, on the coast of the state of Santa Catarina, for example, diesel is costing around R$ 8 while gasoline is sold at stations for R$ 5,9. The new guideline is in line with national and not regional prices and its approval does not imply real changes, at the present time, in relation to the value of refineries, it is more focused on how they control variations according to time.
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What is this new project for?
Petrobras made a public statement to state that the approval of this new project was intended to maximize profits and that they should monitor the company's evolution in the Brazilian market in relation to petroleum derivatives, which increased by more than 100% in just a year, intensifying with the war taking place between Ukraine and Russia. This new guideline will allow the company to control its values and be able to compete on a national scale.
Constant price drops 'next to elections
With the month of October approaching, along with the elections, Petrobras is carrying out constant reductions in fuel prices. In Santa Catarina, for example, the price per liter is below R$ 6 for gasoline and almost R$ 8 for diesel for truck drivers. Despite the high value of diesel, it is important to point out that the government of Jair Bolsonaro, who is also expected to compete for the October elections, will allow workers in the sector to benefit from R$ 1 to pay for freight. Despite this federal transfer, professionals in the transport and logistics sector claim that the amount is still insufficient, since 2022 should end with a inflation above 10% which will not be passed on to final consumers. Companies are scrambling to prevent these price variables from impacting their customers' pockets.
With gasoline and diesel much more expensive, it is estimated that inflation will also rise, since freight increases and, as a consequence, it is passed on to the value of the products. That is, the consumer has to pay more to buy a product and loses purchasing power. In spite of this, in July, inflation ended its negative previews, by about 0,13%. Despite the negative preview, in view of the reductions in Petrobras prices and ICMS cuts by the states, the accumulated increase in the last 12 months exceeds the double digit mark.
