Petrobras Increases Gasoline and Diesel Prices Starting Today (November 12)

Increase in Gasoline and Diesel Prices at Petrobras Refineries Comes Amid Rising Oil Prices in the International Market in Recent Days.

Petrobras announced an increase starting this Thursday (11/12) in gasoline prices by 6% and diesel (500 and S-10) by 5% at refineries. The diesel used for ships will have a 5.2% increase, the oil company reported yesterday (11). Looking for a job? Resume registration for all functions for Petrobras offshore contracts at UO-Rio in Macaé and to work at the REFAP refinery on this day 12

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The increase in fuel prices follows the appreciation of Brent crude oil prices in the international market, which has been rising sharply in recent days, returning to a level close to US$ 45 per barrel due to advances in Covid-19 vaccine research.

According to the Brazilian Association of Fuel Importers (Abicom), the increase in diesel will be R$ 0.0855 per liter and gasoline R$ 0.0947 per liter. With this adjustment, a liter of gasoline will cost R$ 1.82 at refineries, while diesel will cost R$ 1.76.

After being sold by Petrobras to distributors, the fuel price increases until it reaches the end consumer due to state and federal taxes, distribution and resale costs, and the addition of biofuel.

This adjustment is the first made by the state-owned company in November, following two consecutive cuts in gasoline prices and one in diesel prices last month.

Petrobras Seeks Buyers in India as Oil Exports Soar

The Brazilian oil company Petrobras has been rapidly increasing oil production and exports, and its executives are looking for a new market: India.

In an interview as part of the Reuters Commodity Trading Summit, CEO Roberto Castello Branco stated that oil sales to China – an increasingly vital export market for Brazilian oil – will continue to grow amid strong industrial growth there and the acceleration of some of the largest offshore fields in the world in Brazil.

Petrobras has begun seeking new buyers in India, hoping to become a relevant customer within three years as it seeks to diversify its mix of buyers and minimize its dependence on China.