Petrobras Remains Resilient and Maintains Diesel Price R$ 0.70 Below International Parity After Increase in Refining Margins Raises Diesel and Oil Prices Worldwide

Written by Flavia Marinho

Published on 22/10/2022 at 21:52

Preco do diesel e gasolina Petrobras – Imagem OPOvo

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Pressure on Fuel Prices Increases on the Eve of the 2nd Round. Petrobras Maintains Prices at Its Refineries Since September 2 for Gasoline and Since September 20 for Diesel.

Even with the price of diesel and oil facing strong pressure and rising in the international market, Petrobras keeps the fuel price lagging behind international parity, points out Abicon.

According to information from S&P Global Commodity Insights, refining margins in the Atlantic Basin, where the Brazilian market is located, have risen in recent weeks. This represents an increase in diesel and oil prices, reinforcing the pressure on fuel, on the eve of the 2nd round of the presidential elections in Brazil.

Refinery Strike in France and the Reduction of US Stocks Impact Refining Margins

The refinery strike in France and the reduction of US stocks have significantly contributed to the supply, as demand is expected to increase due to the approaching winter in the Northern Hemisphere.

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By and large, the oil derivatives imported by Brazil come from the Atlantic coast of the US, where the crack spread (refining margin, measured by the difference between the price of the derivative and that of crude oil) rose last week to US$ 30.69 per barrel, representing a 14% increase from the previous week.

According to hEDGEpoint Global Markets, to try to match the warming European demand, US refineries have been striving to exceed their diesel production.

“American diesel supply reached the highest level in the last five years for this time of year. However, exports are high, and stocks have fallen to dangerously low levels. Diesel prices in the US and Europe have skyrocketed, and winter has not even started,” notes Energy and Macroeconomics analyst, Heitor Paiva.

Gasoline and Diesel Prices Lagging in Brazil

The Brazilian Association of Fuel Importers (Abicom), states that for Petrobras to maintain parity with the international market, it would be necessary for the state-owned company to increase the price of diesel by 70 cents per liter. The deficit for gasoline was 18 cents (5%).

It is worth noting that Petrobras has not changed the price of gasoline for almost two months and diesel for 30 days, maintaining the same values at its refineries since September 2 for gasoline and since September 20 for diesel.

Petrobras Remains Resilient and Maintains Diesel Price R$ 0.70 Below International Parity After Increase in Refining Margins Raises Diesel and Oil Prices Worldwide

Pressure on Fuel Prices Increases on the Eve of the 2nd Round. Petrobras Maintains Prices at Its Refineries Since September 2 for Gasoline and Since September 20 for Diesel.

Refinery Strike in France and the Reduction of US Stocks Impact Refining Margins

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Gasoline and Diesel Prices Lagging in Brazil

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Petrobras Remains Resilient and Maintains Diesel Price R$ 0.70 Below International Parity After Increase in Refining Margins Raises Diesel and Oil Prices Worldwide

Pressure on Fuel Prices Increases on the Eve of the 2nd Round. Petrobras Maintains Prices at Its Refineries Since September 2 for Gasoline and Since September 20 for Diesel.

Refinery Strike in France and the Reduction of US Stocks Impact Refining Margins

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Gasoline and Diesel Prices Lagging in Brazil

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Where there was only sand and wind at 40 degrees, China built a megacity of 500,000 inhabitants with farms, wineries, and universities in the middle of the desert using melted glacier water from hundreds of kilometers away.

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

Researchers in the U.S. have created a flying robot that transforms into a land vehicle while still in the air. The technology, based on aerodynamic transition, converts landing into a scene worthy of Transformers and redefines mobility between sky and ground.

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