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Soaring Gasoline, Ethanol, and Diesel Prices Do Not Hinder High Demand for Fuels in Brazil, Which Has Agriculture and Transportation as Allies
Demand for gasoline, ethanol, and diesel increases even with fuel prices soaring in Brazil. Diesel demand in the third quarter of 2021 is expected to surpass levels recorded in the same period of 2019, the pre-pandemic year, according to the Oil Market Forecast Report from S&P Global Platts Analytics for Latin America. Demand is expected to reach 1.1 million barrels per day, 15,000 barrels more than in 2019.
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The report shows that the support from the agriculture and transportation sectors, strong retail sales, and better-than-expected economic performance are factors that should influence the increase in diesel demand in the short term. However, COVID-19 infections, political tensions, and ongoing droughts are points of concern that may affect the projections.
Gasoline and Ethanol
The report from S&P Global Platts Analytics, the leading independent provider of information and benchmarks for commodity and energy markets, also notes that the demand for gasoline and ethanol in the third quarter of 2021 is expected to grow in Brazil, reaching 885,000 barrels per day, about 15,000 barrels per day more than in the same period of 2020. Despite the increase, demand is still expected to be 60,000 barrels per day lower than the levels recorded in the same period of 2019.
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Petrobras finds high-quality oil in the pre-salt at 113 km from RJ and reignites expectations about strategic reserves in the Campos Basin.
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Ocyan opens registrations for startups focused on innovation in the oil and gas sector and will select projects for Innovation Day with the support of Nexio.
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Petrobras announces new oil discovery in the pre-salt of the Campos Basin and reinforces Brazil’s prominence with high-quality reserves that can increase production and energy revenues.
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Alert in the fuel market: Analysts and a former director of ANP warn that oil prices may worsen in the coming months due to global instability.
About S&P Global Platts – The leading independent provider of information and benchmark prices for commodity and energy markets, S&P Global Platts has clients in over 150 countries who rely on the company’s expertise in news, pricing, and analysis to provide greater transparency and efficiency to markets.
Loyalty to Fuel Brand at Gas Stations Will End and Fuel Delivery Will Be Allowed; Measure Promises to Reduce Gasoline Prices by Stimulating Competition
The National Agency for Oil, Natural Gas, and Biofuels advocates for the marketing of different brands at the same station, relaxing the “regulatory oversight of brand loyalty.”
Additionally, the agency seeks a new way of operating in the resale market that allows for delivery outside of gas station facilities through a delivery service. The draft resolution will be submitted for public consultation and hearing.
Among the proposals mentioned above, ANP also supports the elimination of the third decimal place in fuel price tables. The goal, according to the agency, is to provide greater clarity in the presentation of prices to Brazilians.
The government believes that the measure will stimulate competition among brands and could reduce gasoline prices by up to R$ 0.50 per liter. However, some distributors oppose the measure, claiming that they are investing in gas stations and that the measure would favor companies that operate irregularly, either through tax evasion or by selling low-quality products.
The delivery system for gasoline outside of gas station facilities, which has already been tested in Rio de Janeiro by GOfit, is also causing controversy.
Diesel, Gasoline, and GLP Prices Soar Again Affecting Truck Drivers and Millions of Brazilians Who Suffer Due to Disproportionate Increases Relative to Current Income
Indefinite strike by truck drivers starting on July 25 against the increase in fuel prices does not intimidate Petrobras, which has made a new adjustment in the prices of diesel, gasoline, and GLP.
Gasoline, diesel, and cooking gas prices soaring did not prevent Petrobras from further increasing fuels on July 6, starting with a punch in the pockets of truck drivers and millions of Brazilians who suffer due to disproportionate increases relative to current income. The new increase, which took effect yesterday, caught the National Cargo Transportation Council – CNTRC by surprise, as there was a “positive” meeting of the entity just a week ago with the president of Petrobras.
Indefinite strike by truck drivers starting on July 25 against the increase in fuel prices practiced by Petrobras. The entire category is called upon by the National Road Cargo Transportation Council – CNTRC, through a note, for a stoppage, for an indefinite period, starting on the next July 25, Truck Driver’s Day (Saint Christopher). Christopher means “he who carries Christ.” Click here to read the full note released.
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