Supreme Court Points Out Irregularities in the Actions of the Brazilian Antitrust Authority (Cade) and the National Agency of Petroleum (ANP) Regarding Fuel Prices Charged by Petrobras

Written by Ruth Rodrigues

Published on 26/08/2022 at 06:25

Foto: Fernando Frazão/Agência Brasil

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Petrobras Again Becomes Target of Criticism from the Federal Government and the STF, As the Agency Points Out Irregularities in Fuel Prices Charged by the State-Owned Company and Requests Actions from Cade and ANP to Stabilize the Market.

On the last Monday, (08/22), the Minister of the Federal Supreme Court (STF), André Mendonça, determined that the National Agency of Petroleum (ANP) and the Administrative Council for Economic Defense (Cade) present what actions will be taken regarding the fuel prices in the national market. The STF also criticized Petrobras’ pricing policy and requested a transfer of processes, aiming to bring more stability to the fuel sector for the year 2022.

Petrobras Again Criticized by the STF Regarding Fuel Prices, and Cade and ANP Are Summoned to Take Action in the National Market

Amid the electoral race and the current president Jair Bolsonaro’s bid for re-election, the STF and the Federal Government are once again criticizing Petrobras and seeking new conflicts with the Brazilian state-owned company.

This time, the biggest criticism is related to the prices charged by the company for fuels in the national market, which have been impacting the end consumer and causing significant instability in the Brazilian economy.

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Thus, STF Minister André Mendonça requested a transfer process for Petrobras’ pricing policy, which has been the main cause of high fuel prices in Brazil. In addition, he requested that Cade and ANP present an agenda with the actions and measures that will be taken over the next 30 days to ensure the regularity of fuel prices in the country.

The STF criticized the stance of both organizations, which are not addressing the unstable situation of products in the national market, and requested a position from Cade and ANP.

Moreover, André Mendonça also set a deadline of only 5 days for the initial measures from ANP and Cade to control Petrobras’ fuel prices to be presented to the Federal Government.

The executive also mentioned in his document sent to the organizations the company’s profit this year, which has been a target of criticism from President Jair Bolsonaro and his allied base, who now aim to be re-elected amid the fuel crisis in the national market.

Despite Fuel Price Reductions in the National Market, the State-Owned Company Continues to Face Criticism Regarding Its Position in the Sector

STF Minister André Mendonça was appointed to the STF last year by Bolsonaro, who is seeking re-election and has among his main campaign flags the reduction of fuel prices.

Thus, the current move by the Federal Government, both in relation to Petrobras and in relation to Cade and ANP, is to shift the blame for the instability in the fuel market onto another party, thus avoiding judgments from voters regarding the current management in power.

The oil and gas company Petrobras has been consistently reducing fuel prices in Brazil, due to the drop in crude oil prices in the international market. In the last two months, the company has implemented five cuts, two on diesel and three on gasoline.

However, the current political moment in Brazil is still causing a true war between the state-owned company and the Federal Government.

Consequently, the price crisis has generated a real tug-of-war between the president and Petrobras, leading to several changes in the company’s leadership until the international situation gave a respite.

Supreme Court Points Out Irregularities in the Actions of the Brazilian Antitrust Authority (Cade) and the National Agency of Petroleum (ANP) Regarding Fuel Prices Charged by Petrobras

Petrobras Again Becomes Target of Criticism from the Federal Government and the STF, As the Agency Points Out Irregularities in Fuel Prices Charged by the State-Owned Company and Requests Actions from Cade and ANP to Stabilize the Market.

Petrobras Again Criticized by the STF Regarding Fuel Prices, and Cade and ANP Are Summoned to Take Action in the National Market

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

Despite Fuel Price Reductions in the National Market, the State-Owned Company Continues to Face Criticism Regarding Its Position in the Sector

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Supreme Court Points Out Irregularities in the Actions of the Brazilian Antitrust Authority (Cade) and the National Agency of Petroleum (ANP) Regarding Fuel Prices Charged by Petrobras

Petrobras Again Becomes Target of Criticism from the Federal Government and the STF, As the Agency Points Out Irregularities in Fuel Prices Charged by the State-Owned Company and Requests Actions from Cade and ANP to Stabilize the Market.

Petrobras Again Criticized by the STF Regarding Fuel Prices, and Cade and ANP Are Summoned to Take Action in the National Market

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

Despite Fuel Price Reductions in the National Market, the State-Owned Company Continues to Face Criticism Regarding Its Position in the Sector

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