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This Is The Second Increase In Fuel Prices Announced By The Mataripe Refinery In Less Than Two Weeks
Last Saturday, the Mataripe Refinery, which is the largest private refinery in Brazil controlled by Acelen, raised the selling price of gasoline and diesel fuel once again. It was the second increase in two weeks, during which OPEC (Organization of the Petroleum Exporting Countries) ordered a reduction in production, putting pressure on international prices. Meanwhile, Petrobras, the country’s most important refinery, has been delaying adjustments in fuel prices, even though the price of oil has been at elevated levels since the beginning of the month in the international market.
The Mataripe Refinery, controlled by the Arab fund Mubadala, increased the price of gasoline by 2% and diesel S10 by 8.9%. The corporation had already increased prices by 9.7% and 11.3%, respectively, in the last adjustment that occurred on the previous Saturday, October 8th.
According to sources from Folha de São Paulo, based on reports from the corporation’s senior management, the government is reportedly pressuring the company to hide any unfavorable news, at least until the end of October.
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According To Abicom, The Average Price Deficit of Fuels at Brazilian Refineries and International Parity Remains High
According to the company that manages the Mubadala refinery, Acelen, the price changes reflect “the pricing of market variables related to diesel and gasoline, which have remained at high levels in the international market due to falling global stocks.”
According to a statement released by Acelen, “the company has a clear pricing strategy, supported by technical criteria and in accordance with global market standards.” The Mataripe Refinery is responsible for 14% of Brazil’s total fuel refining capacity.
On Friday (14), Fernando Borges, director of Exploration and Production at Petrobras, stated that Petrobras serves society by holding off on adjustments during periods of rising global oil prices. Borges claimed that this is one of Petrobras’s ways of contributing to the Brazilians.
Petrobras also states that it monitors external prices, but maintains that it does not pass on what it calls “point volatility” in price variations to customers. However, according to industry experts, the reduction in OPEC production has already brought oil prices to a new level, which raises some questions about the Brazilian oil company’s “non-passing” of these values.
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