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Petrobras Diesel Price at Refineries Decreases by 4%, Effective Next Friday, Now at R$ 5.19 Per Liter

Written by Roberta Souza

Published on 12/08/2022 at 01:04

Updated on 13/08/2022 at 07:40

Refinery and Thermal Power Plant

Foto: reprodução petrobras.com.br

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This Is The Second Price Reduction of Diesel at The State-Owned Refineries in The Space of A Week. The Change Follows The Evolution of Reference Prices, Says Petrobras

On Thursday (the 11th), Petrobras announced that the price of diesel at the refineries will be reduced for the second time in a period of one week. This is also the second reduction since the new president of the state-owned company, Caio Paes de Andrade, took office.

According to the Broadcast website, the reduction is equivalent to a percentage of 4%, or R$ 0.22 per liter, and will be valid starting Friday (the 12th) at Petrobras refineries, so that diesel will then be traded at the price of R$ 5.19 per liter. The price of gasoline, in turn, will not undergo any changes.

The drop in diesel at the refineries occurs in a context where the value of oil in the international market is rising again after several days of decline. It is important to note, however, that the price remains below US$ 100 per barrel, as today, the quotation for a barrel of oil is approximately US$ 99.36.

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Reference Prices for Diesel Stabilized at A Lower Level, According to A Note Issued by Petrobras

Petrobras stated in a note that the reduction follows the evolution of reference prices, which, for diesel, have stabilized at a lower level. Furthermore, according to the state-owned company, it is consistent with the pricing practice adopted by Petrobras, where the goal is to seek price equilibrium with the global market, but without passing the volatility of international quotations and exchange rates onto domestic prices.

According to an analysis by the Brazilian Association of Fuel Importers (Abicom), there were still conditions for a price reduction of R$ 0.60, considering that the average internal price of diesel at the refineries is 14% above the value practiced in the international market.

Oil: Diesel Price Falls in The International Market, While In Brazil The Fuel Is 14% Above The Price Practiced Abroad, According to Abicom Data

With oil prices falling and the dollar weaker, the price of diesel in the Brazilian market is 14% higher than what is being practiced abroad, four days after the R$ 0.20 reduction per liter validated by Petrobras at its refineries, according to a survey conducted by Abicom (Brazilian Association of Fuel Importers) reported this Monday, the 8th. To achieve parity with international market prices, a reduction of R$ 0.64 per liter of diesel would be necessary, adds Abicom, according to the Broadcast website.

Petrobras implemented a reduction in the price of diesel in Brazil last Friday, the 5th. The adjustment represents a decrease of 3.5% in the price of the oil derivative and surprises analysts, as a week earlier, the company’s directors stated that it was still early to change the diesel price, since the global oil market was experiencing significant volatility.

The Brazilian oil company has a policy of changing prices only when there is a structural change in the price of oil and not just a conjunctural one. The oil sector has been facing significant volatility, with consecutive highs and lows, but maintaining the price of diesel below US$ 100 per barrel in recent days in Brazil and worldwide.

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Petrobras Diesel Price at Refineries Decreases by 4%, Effective Next Friday, Now at R$ 5.19 Per Liter

This Is The Second Price Reduction of Diesel at The State-Owned Refineries in The Space of A Week. The Change Follows The Evolution of Reference Prices, Says Petrobras

Reference Prices for Diesel Stabilized at A Lower Level, According to A Note Issued by Petrobras

Oil: Diesel Price Falls in The International Market, While In Brazil The Fuel Is 14% Above The Price Practiced Abroad, According to Abicom Data

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Petrobras Diesel Price at Refineries Decreases by 4%, Effective Next Friday, Now at R$ 5.19 Per Liter

This Is The Second Price Reduction of Diesel at The State-Owned Refineries in The Space of A Week. The Change Follows The Evolution of Reference Prices, Says Petrobras

Reference Prices for Diesel Stabilized at A Lower Level, According to A Note Issued by Petrobras

Oil: Diesel Price Falls in The International Market, While In Brazil The Fuel Is 14% Above The Price Practiced Abroad, According to Abicom Data

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There is a city in China right next to Hong Kong where people speak Portuguese, the streets have names in Portuguese, and the architecture looks like it came straight out of a historic city in Brazil.

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

Milei’s government launches surprise police operations on the streets of Argentina to hunt undocumented immigrants, but the government’s own data reveals that only 4% were irregular. Critics say it is a copy of Trump’s policy without real necessity.

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