Petrobras Modifies Policies as Fuel Reoneração Occurs

Written by Bruno Teles

Published on 03/03/2023 at 17:21

reoneração dos combustíveis (foto/divulgação)

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The Reinstatement of Fuel Taxes Brings Benefits, But Price Increases May Affect More Vulnerable Families. This Was the Assessment of Economists Heard by Agência Brasil.

The president of Petrobras, Jean Paul Prates, assured that the company will not be tied to the price policy for diesel and gasoline based on the Price Parity and Import (PPI). The reinstatement of fuel taxes was welcomed by experts, who point out benefits such as strengthening public policies related to social security, as well as correcting the distortion of subsidies for fossil fuels.

On the other hand, there is a warning about the inflationary impacts that may reach poorer families. The president of Petrobras guaranteed that the company will continue to practice local market prices and will not be tied to the PPI policy for diesel and gasoline. This statement came as a blessing for the more vulnerable families, who have already been affected by a series of taxes in recent years.

The reinstatement of fuel taxes was announced by Lula. Following the announcement, which anticipated increases of up to R $0.34 in gasoline and R $0.02 in ethanol, Petrobras reduced prices.

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Economist Juliane Furno, head of the Institute for Reforming Relations Between State and Enterprise (IREE), stated that the measure not only balances but also reinforces the state’s capacity to promote universal public policies.

She emphasized that this decision will ensure the financing of social security, enabling access to retirement, assistance benefits, and healthcare for all. Thus, she indicated that it is an important step towards a low-carbon economy. In this way, the Brazilian government has shown commitment to energy transition, considering fiscal balance and the well-being of the population.

Economist Juliane Furno warned that the total reinstatement of fuel taxes, announced by the government, may have an inflationary impact and penalize the poorest families. She stated that a gradual strategy could have been applied to avoid these consequences.

Professor Marco Antônio Rocha from the Institute of Economics at Unicamp agreed with the reinstatement of fuel taxes but emphasized that the government missed the chance to debate Petrobras’ pricing policy. He explained that the company prices fuels based on the international price of a barrel of oil and not on the local production cost.

“I think the first important step would have been for the government to announce together with this [the reinstatement of fuel taxes] what a new Petrobras pricing policy“, he said. Rocha added that, although the international oil price is stabilized at the moment, it is important to plan for potential changes in the external scenario.

Economist Juliane Furno criticized the measure taken by the government for the total reinstatement of fuel taxes, arguing that it “will have an inflationary impact that could even affect the president’s popularity”. Professor Marco Antônio Rocha pointed out that Petrobras’ pricing policy should have been discussed at the time of the reinstatement of fuel taxes.

Petrobras Modifies Policies as Fuel Reoneração Occurs

The Reinstatement of Fuel Taxes Brings Benefits, But Price Increases May Affect More Vulnerable Families. This Was the Assessment of Economists Heard by Agência Brasil.

The Brazilian Government Decided to Rebalance Public Accounts by Reducing Subsidies to Non-Renewable Fuels.

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Petrobras Modifies Policies as Fuel Reoneração Occurs

The Reinstatement of Fuel Taxes Brings Benefits, But Price Increases May Affect More Vulnerable Families. This Was the Assessment of Economists Heard by Agência Brasil.

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