Private Mataripe Refinery Operated by Arab Acelen Sells Fuels More Expensive Than Petrobras, Causing Gasoline Prices in Bahia to Exceed National Average

The Private Refinery Mataripe Made At Least Three Increases in Fuel Sale Prices Just in January, Making Gasoline and Diesel in the Region Even More Expensive than the Rest of the Country.

Currently, the private refinery Mataripe, located in the municipality of São Francisco do Conde (BA) and operated by the Arab Fund Acelen, sells gasoline and diesel at prices higher than those practiced by Petrobras. The impact is directly felt in the pockets of Bahia drivers. At fuel stations in Bahia, the price of gasoline rose by 3% this year, while the national average increase in Petrobras prices was 0.9%.

See Also

• Sovereign Fund Mubadala, from the Prince of Abu Dhabi, Creates Acelen to Manage and Operate the RLAM Oil Refinery and Aims for Economic Integration in the State of Bahia
• Rio de Janeiro Records an Increase Above 7% and Gasoline Prices Reach Nearly R$ 8, Marking the Second Highest Average in the Southeast Region
• If Elected, Lula Says the Dollar Will Not Serve as a Basis to Define Gasoline Prices in Brazil, as is Practiced Today by Petrobras

According to the Social Observatory of Petrobras, the current price of gasoline produced at the private refinery Mataripe is R$ 3.32 per liter, while Petrobras charges R$ 0.14 less on average.

The price of diesel S-10 from the private refinery Mataripe is R$ 3.67 per liter, while Petrobras sells it to fuel distributors for R$ 0.06 less.

There were three price increases established by Acelen throughout January, compared to just one increase by Petrobras (on the last day of the 11th), making gasoline and diesel prices even higher.

Regarding the price of gasoline at the pump in Bahia, there were consumers who paid over R$ 7.00 in the last week of January.

This high price was somewhat expected when the Arab Fund openly confronted Petrobras’ price movements back in 2021, going against the very heir prince of Abu Dhabi.

Price of Gasoline Charged by Acelen Is Based on Oil and Dollar Prices

According to the Arab Fund Mubadala, the fuels produced by the private refinery Mataripe are international commodities, therefore the prices of gasoline and diesel fluctuate according to oil and dollar quotations.

In light of this, the Arab operator claims to have clear and transparent criteria for setting fuel prices. Moreover, Brazil imports a significant amount of oil and derivatives, causing the country to be tied to prices determined abroad.

Industry executives believe that Acelen is creating a new price comparison benchmark for fuels in Brazil, as it is tracking international price fluctuations more closely than Petrobras itself.

Will Refinery Privatizations Make Gasoline Price Increases a Trend?

The sovereign Arab fund Mubadala, from the Prince of Abu Dhabi, took over the Landulpho Alves-Mataripe (RLAM) oil refinery – now the private Mataripe refinery – in December 2021. Subsequently, Acelen was founded with the aim of managing and operating it. The purchase was made from Petrobras in March 2021 for US$ 1.65 billion.

If the privatization of refineries becomes a trend in Brazil, experts believe that what is happening in Bahia could become common throughout the country.

For economist Eric Gil Dantas, from the Brazilian Institute of Political and Social Studies of the Social Observatory of Petrobras, “the buying company will start charging prices even higher than we pay today.”

Another refinery already sold by Petrobras is the Isaac Sabbá (REMAN) located in Manaus (AM). It was purchased by Ream Participações, a corporate vehicle owned by partners of Atem’s Distribuidora de Petróleo, for US$ 189.5 million. However, it is still operated by Petrobras.

Concerning its pricing policies, Petrobras advocates alignment with international quotations to attract investments and ensure supply.