The National Financial Market Is Already Projecting A Strong Increase In The Inflation Index In Brazil For 2022, With Worsening For The Coming Years. All Because Petrobras Adjusted Fuel Prices, With Gasoline Over 18.8% And Diesel At 24.9%.
Brazilians Will Have To Live Without Significant Reductions In Product Prices For A While. The Central Bank’s Market Report (Focus) Reveals That Brazil’s Official Inflation Index Increased For Another Week, From 5.65% To 6.45%, Resulting In An Expectation For The Broad Consumer Price Index To Rise From 3.51% To 3.70% In 2023 And From 3.10% To 3.15% For 2024. These Increases Are Consequences Of Petrobras’ Fuel Price Adjustments, Which Has Been Under Pressure And Discredit From All Sides.
See Also
- Bolsonaro Launches Criticism At Petrobras, And Government Authorizes The Ministry Of Mines And Energy To Warn Stations That Do Not Follow The Fuel Price Reduction Approved By Congress
- Due To The War, The World Is Watching Pre-Salt Oil: Can Brazil Take Russia’s Place As The Supplier Of Our Reserves’ Oil To The World Through Petrobras?
Regarding The Basic Interest Rate Of The Economy, The So-Called Selic Rate, The Projection Is To Go From 8.25% To 8.75% In 2023 And From 7.38% To 7.50% In 2024. The Focus Report Survey That Projected These Rates And Future Inflation Was Based On Responses From Over 100 Financial Institutions.
The Adjustment Of Fuel Prices Is One Of The Most Discussed Topics Throughout Brazil. But It’s No Wonder. The Increase Directly Affects The Brazilian Budget And Triggers The Need For Organizations And Public Officials To React Against Petrobras.
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Gasoline prices soar and the question arises: is ethanol more advantageous? The 70% rule reveals the limit with gasoline.
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The government has made a decision and is starting a test with more ethanol in gasoline, anticipating a mixture of up to 35%, diesel with 25% biodiesel, and a study to assess the impacts on engines.
President Jair Bolsonaro Stated That The Company Lacks Sensitivity To The Population And Even Fired: “It’s Petrobras Football Club And The Rest Can Explode.” These Criticisms Can Be Viewed In Two Ways:
- To Provide An Answer To The Electorate, Especially Since 2022 Is An Election Year
- A Strategy For General Joaquim Silva And Luna, Appointed By Bolsonaro Himself, To Request To Leave The Command Of Petrobras
Meanwhile, The Federal Court Of Accounts Is Investigating Possible Interference By Bolsonaro In Petrobras. What Is Being Said Behind The Scenes So Far Is That Silva And Luna Will Not Request To Leave The Command Of The Company.
It’s Worth Noting That The President Of Petrobras Simply Follows The Fuel Pricing Policy, Which Is Based On The Dollar, And The Main Shareholder Of The State Company Is The Union Itself. In 2021, The Government Received R$ 37.3 Billion In Dividends From The R$ 106.668 Billion Earned By The Company.
Pressure From Other Spheres Due To The Increase In Fuel Prices
The Justice System, Congress, And Institutions Representing Carriers And Independent Truck Drivers Have Also Spoken Out Against The Increase In Fuel Prices At Refineries.
Judge Flávia De Macêdo Nolasco, From The 9th Federal Court In Brasília, Had Given A Deadline Of 72 Hours For The Attorney General’s Office (AGU) And Petrobras To Explain The Increases To The National Road Freight Transport Council (CNTRC). The Request Was Filed By The Union Of Independent Cargo Transporters Of Guarulhos And Jundiaí And By The Mixed Parliamentary Front Of Independent And Celetista Truck Drivers, Which Brings Together 235 Deputies And 22 Senators.
The AGU Was Quick To Respond, Denying To The Justice That The Federal Government Is Being Omissive In Controlling “Supposed Illegalities Practiced” By Petrobras In Its Pricing Policy And Stating That There Is No Way For President Jair Bolsonaro To Interfere In The Company, As It Is Not Subordinated To The Government.
Petrobras Also Published Two Videos On Its Social Media Justifying The Recent Increases. The Company Claims That The Record Profit Achieved In 2021 Of Over 106 Billion “May Seem Very High, But It Is Not” And That “The Adjustment Was Necessary To Maintain Supply For All Companies, Mitigating Risks Of Shortages.”
The President Of The Senate, Rodrigo Pacheco (PSD-MG), Criticized The Profit Made By Petrobras And The Increase In Fuel Prices, Promising To Demand That The Company Fulfill Its “Social Function.”
“Petrobras Currently Has A Profitability That Is Three Times Higher Than Its Competitors, With Billion-Dollar Dividends. Obviously, It Is Very Good That This Happens, But It Cannot Happen At The Expense Of The Brazilian Population Who Fuels Their Vehicles Or Who Needs Public Transportation,” Said Pacheco At An Event This Monday (14) In Belo Horizonte – MG.
Petrobras’ Future Will Be Discussed In April
A General Assembly Of Petrobras Is Scheduled For April 13. At This Meeting, The Company’s Shareholders Will Evaluate The Nomination Of Flamengo’s President, Rodolfo Landim, To Head The State Company’s Board Of Directors.


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