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With the new cut, the eighth this year, the accumulated drop in gasoline prices at Petrobras refineries will reach about 40% this year.
Petrobras will reduce gasoline prices at its refineries by 15% starting today (03/25). There will be no adjustments for diesel, the company informed. Eike closes plea deal with a fine of 800 million reais; 116 million will go to the Ministry of Health for combating coronavirus
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The reduction in gasoline prices will occur amid falling oil and derivative prices in the international market due to the impacts of the coronavirus expansion and a price war among major global producers of the commodity.
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With the new cut, the eighth this year, the accumulated drop in gasoline prices at Petrobras refineries – responsible for almost 100% of Brazil’s refining capacity – will reach about 40% this year.
Last week, Petrobras had already reduced gasoline prices by 12% and 7.5% for diesel. Diesel prices, in turn, have fallen by approximately 30% this year. The decrease in gasoline and diesel prices has not yet reached consumers’ pockets.
According to Argus data, “The average price of gasoline sold by Petrobras fell 20% between March 2 and 20, reaching R$1,351/m³. The Argus index for imported gasoline cargoes dropped 44% in the same period, reaching R$828/m³ based in Brazil.”
Petrobras is reducing the processing load at its refineries, and in light of the decrease in demand for fuels in the country, the company has adopted additional safety measures to reduce the circulation of workers in its industrial plants.
To maintain a reduced workload at the refineries, Petrobras has taken measures such as postponing scheduled shutdowns and changing the operation shifts from 8 hours to 12 hours at its refining, natural gas, and energy industrial units.
Not only these, but other measures have been adopted by Petrobras, such as remote work for employees over 60 years old and increased home office for administrative activities.
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“The criterion also applies to the boarding of employees. If they are already on board, they will wait for the scheduled disembarkation and will not board again until the situation normalizes,” adds the company.
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