Will Prices Drop? Petrobras Manager Sees No Positive Outlook for Fuel Price Decrease in the Short Term

Written by Fabio Lucas Carvalho

Published on 24/10/2021 at 15:28

(Marcelo Camargo/Agência Brasil)

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Average Fuel Prices Should Remain High. Petrobras Does Not Expect a Reduction in the Price of Oil Barrel in the International Market in the Short Term

Fuel prices keep rising, directly impacting the lives of Brazilians from all social situations. Only between January and September, the price of gasoline increased by 28%, while diesel rose by as much as 32%. Even with such a complicated situation, Petrobras still does not foresee a reduction in the near future.

According to Sandro Barreto, General Manager of Marketing in the Domestic Market at Petrobras, the trend is that fuel prices will continue to rise due to fluctuations in the price of oil barrels in the international market.

Video: Petrobras Comments on Fuel Price Increase on 10/25/2021

YouTube video — ***Petrobras Announces Price Adjustment for Gasoline and Diesel Sold to Refineries | LIVE CNN***

Last Thursday, in the Consumer Defense Commission at the Chamber of Deputies, Sandro Barreto explained that the arrival of winter in the Northern Hemisphere, combined with the acceleration of global production towards the final stretch of the pandemic, increases the demand for oil worldwide.

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Petrobras Justifies High Fuel Prices

Petrobras faces criticism over the price of gasoline throughout the country. Barreto stated that only R$ 2.18 of the average price of gasoline in the country, which is R$ 6.32, refers to the state-owned company. State and federal taxes correspond to R$ 2.40, distributors and resellers, R$ 0.69, and the anhydrous with R$ 1.06.

“The commodity market is extremely volatile, nervous. The exchange rate also has a quite intense variation, sometimes from one day to the next. And what Petrobras seeks in its pricing policy is precisely to avoid passing this immediate volatility to its pricing in the Brazilian market,” Barreto added in reference to Petrobras’ pricing policy.

Will Prices Drop? Petrobras Manager Sees No Positive Outlook for Fuel Price Decrease in the Short Term

Average Fuel Prices Should Remain High. Petrobras Does Not Expect a Reduction in the Price of Oil Barrel in the International Market in the Short Term

Video: Petrobras Comments on Fuel Price Increase on 10/25/2021

Petrobras Justifies High Fuel Prices

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Will Prices Drop? Petrobras Manager Sees No Positive Outlook for Fuel Price Decrease in the Short Term

Average Fuel Prices Should Remain High. Petrobras Does Not Expect a Reduction in the Price of Oil Barrel in the International Market in the Short Term

Video: Petrobras Comments on Fuel Price Increase on 10/25/2021

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