Fuel Prices: Diesel and Gasoline from Petrobras Are Higher Than International Prices, and High Tax Rates on Fuels in Brazil Are Pointed Out as the Main Cause for This Difference

Written by Bruno Teles

Published on 07/02/2023 at 18:32

Preços dos combustíveis Petrobras (Foto/divulgação)

Seja o primeiro a reagir!

The Average Prices of Gasoline and Diesel from Petrobras Sold to Distributors in Brazil Are Above Import Parity, Opening Space for the Oil Company to Reduce Prices at Its Refineries.

This occurred due to the fall in oil prices in the international market last week, amid concerns over higher interest rates in the U.S.

Despite this, commodity values rose about 1% on Monday, 6. Jean Paul Prates, the new president of Petrobras, advocates ending import parity for the company’s price formation. The international market has proven to be unstable, opening space for a possible reduction in the oil company’s prices.

Pedro Shinzato, oil and derivatives analyst at StoneX, commented that this change could happen soon. According to StoneX, Petrobras would have to cut diesel by 16.8% and gasoline by 11.6% to achieve average parity. However, Shinzato and other experts point out that external factors, such as the European Union’s embargo on Russian diesel, could change this scenario and raise prices worldwide.

ARTICLE CONTINUES BELOW

Petrobras with Jean Paul Will ‘Brazilianize’ Fuel Prices, Says FUP

Initially, Petrobras decides when and how to adjust fuel prices according to import parity, which takes into account global variables such as the price of oil and the value of the dollar. The decision is made by the company’s CEO, along with two other directors: the finance director and the marketing director.

Additionally, other commercial variables are considered to determine the ideal time to make price adjustments. The executive president of the Brazilian Association of Fuel Importers (Abicom), Sérgio Araújo, stated that, although there are price discrepancies, it is not the ideal time to make adjustments, as international prices tend to rise due to the European embargo on Russian diesel.

According to Abicom’s estimates, Petrobras diesel is 18% more expensive than if imported, while gasoline costs 10% above import parity. Since Roberto Castello Branco took office as president of Petrobras, fuel prices have not undergone adjustments.

However, the Brazilian Center for Infrastructure (CBIE) estimates that diesel is 14.14% above parity and gasoline 8.86%. The decision on prices is made by executives from the previous management based on import parity.

The president of Petrobras appointed a new marketing director and four new executives for the company’s boards. These names are being evaluated by Petrobras’s integrity committees. However, there is still no appointee for the financial director position.

Source: REUTERS

Fuel Prices: Diesel and Gasoline from Petrobras Are Higher Than International Prices, and High Tax Rates on Fuels in Brazil Are Pointed Out as the Main Cause for This Difference

The Average Prices of Gasoline and Diesel from Petrobras Sold to Distributors in Brazil Are Above Import Parity, Opening Space for the Oil Company to Reduce Prices at Its Refineries.

Petrobras with Jean Paul Will ‘Brazilianize’ Fuel Prices, Says FUP

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

The world has been generating 80% of electricity by boiling water for 200 years, but China has just turned on a machine that replaces steam with supercritical CO2 and promises to jump from 33% to 50% efficiency.

At a depth of 914 meters, a team accidentally discovers a pirate ship with cannons, a telescope, and objects from three continents on the seabed, uncovering a mystery that has haunted Europe for centuries.

Brazilian producers are leaving Roraima to plant in Guyana, where the government offers land on concession and does not charge taxes, while in Brazil the harvest faces high interest rates and a bureaucracy that hinders even the use of the rivers.

Instead of digging new holes, scientists dive into an abandoned acid mine lake in Montana and discover that the toxic water has already done the work of extracting rare earths from the rock on its own.

The photo that changed airport security worldwide was accidentally taken in Sydney in 1970, when a camera inadvertently captured the fall of a teenager from the landing gear of an airplane.

Fuel Prices: Diesel and Gasoline from Petrobras Are Higher Than International Prices, and High Tax Rates on Fuels in Brazil Are Pointed Out as the Main Cause for This Difference

The Average Prices of Gasoline and Diesel from Petrobras Sold to Distributors in Brazil Are Above Import Parity, Opening Space for the Oil Company to Reduce Prices at Its Refineries.

Petrobras with Jean Paul Will ‘Brazilianize’ Fuel Prices, Says FUP

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

A Brazilian municipality relies on 97% federal money, has 14 secretariats, 11 councilors, and a budget of R$ 131 million, but only 915 people are formally employed, and no one knows how the other 25,000 live.

Argentina steps on the accelerator to become a power with a $20 billion agreement, immediate release of $1 billion, reserves above $5.5 billion, and a decrease in poverty to 28.2%.

Hong Kong leads the ranking of the most expensive fuel in the world and is suffering from a global crisis.

Giant refrigerator arrives in Ceará with a new factory to slaughter 1,000 cattle per day and promises to shake up the livestock industry in the state.

The delivery person made the first route on Shopee with 114 packages and 63 stops over 23 km: they traveled a short distance but took 7 hours to deliver everything and still don’t know for sure how much they will receive.

The world has been generating 80% of electricity by boiling water for 200 years, but China has just turned on a machine that replaces steam with supercritical CO2 and promises to jump from 33% to 50% efficiency.

At a depth of 914 meters, a team accidentally discovers a pirate ship with cannons, a telescope, and objects from three continents on the seabed, uncovering a mystery that has haunted Europe for centuries.

Brazilian producers are leaving Roraima to plant in Guyana, where the government offers land on concession and does not charge taxes, while in Brazil the harvest faces high interest rates and a bureaucracy that hinders even the use of the rivers.

Instead of digging new holes, scientists dive into an abandoned acid mine lake in Montana and discover that the toxic water has already done the work of extracting rare earths from the rock on its own.

The photo that changed airport security worldwide was accidentally taken in Sydney in 1970, when a camera inadvertently captured the fall of a teenager from the landing gear of an airplane.