Refinarias - Gasolina atinge menor patamar em ao menos 15 anos, com o litro a menos de R$ 1

Refineries – Gasoline Reaches Lowest Level in At Least 15 Years, With Price Below R$ 1 Per Liter

Written by Roberta Souza

Published on 17/04/2020 at 15:32

Petrobras, gasolina, refinarias

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Gasoline and Diesel at Petrobras refineries are experiencing a new price reduction this Wednesday (15), reaching the lowest value of the decade, except for inflation adjustments during the period. According to the Brazilian Infrastructure Center (CBIE), this is the lowest price since 2005.

Amid the new coronavirus pandemic and following trends in the international oil market, Petrobras announced a new reduction in gasoline and Diesel prices. The former saw an 8% reduction, bringing the price to R$ 0.99 per liter at refineries, while the latter had a 6% reduction, with an average price of R$ 1.52 per liter at refineries.

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Aside from this period of fluctuations caused by the pandemic, the lowest price per liter of gasoline was reached in July 2017 when fuels cost R$ 1.38 per liter for gasoline and R$ 1.69 per liter for diesel.

The expectation is that this reduction in refinery prices will not be well exploited by end consumers, as Petrobras states that sales plummeted in the first weeks of quarantine in Brazil. In the case of gasoline, the company’s estimate is that the sales reduction was around 60%.

According to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the reduction in fuel prices at the pumps reached about 8% in just one month. This is the lowest pump price since July 2017 for diesel and August of the same year for gasoline, excluding inflation adjustments.

In contrast, sugarcane mills suffered a negative impact due to low ethanol consumption and requested government assistance to face gasoline competition. Among the proposals being studied are exemptions from PIS/Cofins on hydrated ethanol, granting credit for product stock while the current situation persists, and raising the Cide rate on gasoline. The latter proposal aims to charge a higher tax amount when gasoline prices are low and reduce the tax rate when prices are high.

Refineries – Gasoline Reaches Lowest Level in At Least 15 Years, With Price Below R$ 1 Per Liter

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