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Home Fuel prices depend on market fluctuations, says Petrobras.

Fuel prices depend on market fluctuations, says Petrobras.

12 July 2018 to 06: 48
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Fuel Price
Fuel prices depend on market fluctuations, says Petrobras. 

Fuel prices depend on market fluctuations, says Petrobras. Increased use of refineries caused a drop in oil exports.

Petrobras confirms again that it is not responsible for dictating the fuel price. They suffer variation according to market conditions and their oscillations. By using its refineries, Petrobras caused a significant drop in oil exports from the country. This scenario is shown in its resumption of domestic market share for fuel supply.

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Competitors of the state-owned company end up discouraged from continuing with imports due to Petrobras putting in practice its prices below the import level, confirm importers and several professionals specialized in market analysis.

2,176 million per day

With the power to process 2,176 million barrels per day (bpd), Petrobras did not go into detail about the utilization factor of its refineries. Diesel sales at distributors fell by 0,6% following the 11,1% drop in gasoline sales, says ANP. The value of the fall of all fuels together accounted for 1,1%.

The worst scenario of recession in the economy of all time had a great impact on fuel demand, according to the statement by Alexandre Szklo, professor of Energy Planning at Coppe/UFRJ.

We cannot fail to mention the so-called truck drivers' strike, which contributed to the drop in sales.

In the sixth month of the year it was necessary to increase the refining of national oil, compared to May of this year, which was caused by the increase in demand for this type of product. Oil exports were reduced as a result of this demand, according to information from Petrobras.

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Falling imports

With the practice of setting prices below import parity, independent international companies find it difficult to continue their operations in Brazil. This practice makes these companies, which have invested so much in infrastructure, unfeasible because they are not profitable because of prices. This statement was made by the president of the Brazilian Association of Fuel Importers (Abicom).

As a result of the truck drivers' strike and an agreement signed by the government in June 2018, it also contributes to the difficulties in importing fuel, says the Abicom – Brazilian Association of Fuel Importers.

The reduction in fuel prices, according to a government program, reimburses importers and refineries by up to R$ 0,30 (thirty cents)/liter.

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Interrupted import activities

The unfeasibility of the operation, given the drop in import prices practiced by Petrobras, caused independent Importers to interrupt their activities.

 

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