Gasoline And Diesel Prices Spike Once Again With Petrobras’ New Adjustment At Its Refineries, Impacting Consumers Even More
The Brazilian oil company Petrobras announced a new price increase for gasoline and diesel yesterday (04/15). The announcement came the day before the appointment of General Joaquim Silva e Luna as president of the state-owned company. The new prices take effect today.
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According to Petrobras, the diesel price increased by an average of R$ 0.10 per liter. Thus, it will rise from an average price of R$ 2.66 to R$ 2.76. This is the sixth increase since January. Year-to-date, diesel has accumulated a 36.6% increase at the refineries.
The price of gasoline rose R$ 0.05 per liter, going from R$ 2.59 to R$ 2.64. This is the seventh increase of the year. Therefore, year-to-date, gasoline has accumulated a 43.4% increase at the refineries.
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In a statement, Petrobras said that “aligning prices to the international market is crucial to ensuring that the Brazilian market continues to be supplied without the risk of shortages by the different actors responsible for meeting the various Brazilian regions.” The increases come after two consecutive drops in diesel and gasoline prices at the refineries.
The state-owned company clarified that “adjustments are made at any time, without a defined periodicity, according to market conditions and the analysis of the external environment.” This allows the company to “compete more efficiently and flexibly and avoids the immediate pass-through of external volatility to internal prices.”
The Price Of Gasoline And Diesel Sold At The Pump Is Different From The Value Charged At Petrobras Refineries
The price of gasoline and diesel sold at the pump is different from the value charged at Petrobras refineries. By the time it reaches the consumer, federal and state taxes, costs for acquisition and mandatory blending of biofuels, as well as the gross margins of the distribution companies and fuel retail stations, are added.
On April 5, Petrobras raised the gas price to distributors by up to 39%. The increase will take effect from May. The adjustment will be passed on to the final consumer, although not in the same proportion, according to the association that brings together distributors.
The increase in fuel prices, starting in mid-February, caused friction between then-state president Roberto Castello Branco and Jair Bolsonaro. Dissatisfied, Bolsonaro dismissed Castello Branco and appointed Silva e Luna to the position.
Silva And Luna Was Elected As A Member Of The Board Of Directors
Silva and Luna was elected as a member of the Board of Directors last Monday in a shareholders’ meeting. The expectation, according to sources, is that the general will adopt some type of change in the pricing policy compared to the previous administration.
Silva and Luna is already in Rio and has been working in-person at the state-owned company in the city center. One of the first decisions of the new management is to re-evaluate the home office in May this year for around 20,000 employees. The date for the evaluation of the home office was already set and will be maintained, but management is expected to return soon to work at the oil company’s headquarters.

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