After 53 Days Without Fuel Price Adjustments, Petrobras Informs That Adjustments Are Effective on This Day 19
Petrobras informs that gasoline will have an increase of 2.7% (R$ 0.05) and diesel by 1.2% (R$ 0.026) and that these adjustments will start to take effect this Tuesday (19), the state-owned company said in a statement. On November 1, 2019, Petrobras had already reduced the price of diesel by 3%. See also: Petrobras conducts the largest seismic survey in the world in Búzios.
Before the announced adjustment, gasoline was leaving the refineries at an average price of R$ 1.8054 per liter, and will now cost R$ 1.8554. Diesel increases from R$ 2.1877 to R$ 2.2137 per liter. This data is from the CBIE (Brazilian Center for Infrastructure).
The method Petrobras uses to adjust fuel prices at refineries is by monitoring fluctuations in the dollar and global market quotations. In the second week of November, Brent oil, which the state-owned company uses as a reference, ended with a 1.3% increase, with the dollar closing at R$ 4.193, marking the second highest quotation in human history.
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Although the values may seem “insignificant”, it is the gas stations that decide whether or not to pass these prices on to the final consumer, as Petrobras is not responsible or has any autonomy over their decisions.
Outdated Prices
In the view of importers, the prices Petrobras decided to practice are very outdated when considering the current dollar price, which, by the way, hit a historical record this week. Check here the current quotation and the milestone achieved.
Before the news of the adjustment, CBIE had already calculated last Friday (15) a mean deficiency of R$ 0.10 per liter compared to the quotation in the Gulf of Mexico, in the USA. Abicom states that depending on the delivery point, this deficiency can range from R$ 0.09 to R$ 0.19 per liter. See also: Shell complains about high prices of onerous transfer blocks
The longest period Petrobras went without changing fuel prices was 55 days, but this occurred between February and April 2017. The state-owned company states that it will continue with its current pricing policy: “The actual import values vary from agent to agent, depending on characteristics such as, for example, commercial relations in the international and domestic markets, access to logistics infrastructure, and the scale of operation,” says the state-owned company.

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