Gasoline Prices Per Liter Plunge in Brazil, 16.7% Below Global Average, Without Considering New Reduction in Petrobras Prices

Written by Flavia Marinho

Published on 01/08/2022 at 16:31

Updated on 22/08/2022 at 17:37

Falta de gasolina e diesel gera fila em em posto de combustível / Imagem UOL

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Drop In National Fuel Value: Worldwide Average Gasoline Price Is Around U$1.44, While In Brazil The Price Drops To The Equivalent Of U$1.119.

The reduction in taxes was the most relevant factor for the decrease in gasoline prices. Theentry of Caio Paes de Andrade along with government charges has caused the price of gasoline to drop by R$0.20 and indicated that it would continue to decrease in the coming weeks.

With the elections approaching, Bolsonaro declared that the price should drop and become the cheapest globally, but this benefit has an end date, the end of his term.

The drop in value is around 16.7% compared to the global average. According to data recorded by Global Petrol, the average gasoline price worldwide is around U$1.44, while in Brazil the price drops to the equivalent of U$1.119.

ARTICLE CONTINUES BELOW

Fuel Price Change Affects Not Only Directly But Also Indirectly

Obviously, the change in fuel prices influences not only directly but also indirectly when we talk about the overall economy of the country. The three main factors are the federal tax cuts, Goods and Services Tax (ICMS) and the determination of a cap on taxes related to the product at up to 18%.

Despite these factors, oil prices are still quite unstable, while diesel has maintained its prices and shows no signs of change for now. The main issue with diesel is the scarcity that has been emerging in the market over the months, as national consumption has seen a considerable increase.

Gasoline Prices Per Liter Plunge in Brazil, 16.7% Below Global Average, Without Considering New Reduction in Petrobras Prices

Drop In National Fuel Value: Worldwide Average Gasoline Price Is Around U$1.44, While In Brazil The Price Drops To The Equivalent Of U$1.119.

Fuel Price Change Affects Not Only Directly But Also Indirectly

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Gasoline Prices Per Liter Plunge in Brazil, 16.7% Below Global Average, Without Considering New Reduction in Petrobras Prices

Drop In National Fuel Value: Worldwide Average Gasoline Price Is Around U$1.44, While In Brazil The Price Drops To The Equivalent Of U$1.119.

Fuel Price Change Affects Not Only Directly But Also Indirectly

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

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Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

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