Petrobras Breaks Fuel Price Hikes; Despite Adjustment, Gasoline and Diesel at Refineries Represent Less Than Half of Final Consumer Price

Despite the Adjustment, Petrobras Claims That Diesel and Gasoline Prices at the Refinery Accumulate Falls for the Year and Represent Less Than 50% of the Price at the Pumps.

Last Friday (10/09), Petrobras approved an average increase of 4% in gasoline prices and 5% in diesel prices, both referring to the cost of products at the refineries. In a statement, the state-owned company claims that the prices of both fuels have fallen this year and correspond to less than half of the amount charged to consumers. Petrobras Drills New Oil Well in the Pre-Salt of the Santos Basin

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With the adjustment, a liter of gasoline will cost R$ 1.82 at the refineries, while diesel will be R$ 1.76. After being sold by Petrobras to distributors, the fuel price increases until it reaches the final consumer due to state and federal taxes, distribution and resale costs, and the addition of biofuel.

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The price practiced by Petrobras at its refineries corresponded, between July and August, to 30% of the final price of gasoline and 49% of the final price of diesel sold at gas stations.

When announcing the adjustments, Petrobras reported that, over the year, the prices of both fuels have fallen. In the case of gasoline, the price is 5.3% lower than in January. The diesel sold at the refineries is 24.3% cheaper than at the beginning of the year.

Petrobras argues that, according to a survey by Globalpetrolprices.com in 127 countries, the average price of diesel to the final consumer in Brazil is 32% lower than the global average, being lower than the prices observed in 103 countries. For gasoline, the final price in Brazil is 23% lower than the global average and lower than in 96 countries. In both cases, the charged amounts are converted to dollars to allow for comparison.

_{Note: Prices are converted to dollars, and the international comparison is directly influenced by the exchange rate. For the ranking of 127 countries, only those for which Globalpetrolprices.com reports having updated official data were considered, and for this graph, we selected some countries for illustrative purposes. The complete list is available at this link}