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Petrobras Raises Diesel Price by 4.2% and Gasoline Price by 3.5% at Refineries Today

Written by Renato Oliveira
Published on 19/09/2019 at 09:03
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Saudi Refinery Bombing Drives International Price Up and Petrobras Adjusts Prices Starting Today at Refineries

After stating last Monday (09/16) that it would maintain fuel prices until oil values stabilized, Petrobras reversed its decision and raised diesel prices by 4.2% and gasoline by 3.5%.
The adjustment takes effect this Thursday at the refineries, and the pass-through to consumers is at the distributors and gas stations’ discretion.Gas stations are already being penalized for abusive prices!

Following the surge in international oil prices due to the bombing of oil facilities, including the world’s largest refinery,

Petrobras’s adjustment at refineries takes effect this Thursday (19) and comes after the surge in international oil prices due to attacks in Saudi Arabia.
The attack halved Saudi Arabia’s production, the world’s largest oil exporter.

Price Variations

Since Tuesday, however, oil barrel prices have been declining after the Saudis declared that they had already recovered part of their production and that the supply would be restored much more quickly than previously thought.
Since the attacks, which occurred last Friday, the price of Brent crude (international benchmark) rose by 5.6%, closing this Wednesday at US$ 63.60 per barrel, according to Reuters.

Currently, Petrobras has a pricing adjustment policy based mainly on international quotes. According to Sérgio Araújo, president of the Brazilian Association of Fuel Importers (Abicom), it is necessary for the company to follow the international market, and he stated: “Waiting for price stabilization after the event in Saudi Arabia was necessary.”

Thadeu Silva, head of the oil and gas area at INTL FCStone consultancy, also spoke to Reuters about Petrobras’s pricing policy and stated: “It is following market conditions.” “The adjustment it made (on diesel) is very close to what reflects the import parity in the international market now. So it is equalizing market conditions.”

Read Also! Check the list of 17 oil companies that will participate in the ANP auction on October 10!

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Renato Oliveira

Engenheiro de Produção com pós-graduação em Fabricação e montagem de tubulações com 30 anos de experiência em inspeção/fabricacão/montagem de tubulações/testes/Planejamento e PCP e comissionamento na construção naval/offshore (conversão de cascos FPSO's e módulos de topsides) nos maiores estaleiros nacionais e 2 anos em estaleiro japonês (Kawasaki) inspecionando e acompanhando técnicas de fabricação e montagem de estruturas/tubulações/outfittings(acabamento avançado) para casco de Drillships.

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