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October Reveals Variations in Fuel Prices in Brazil
October was a month of mixed signals for fuel prices in the Brazilian market. The numbers show a reduction in the cost of gasoline by 1% and ethanol by almost 1%, contrasting with a slight increase of 0.22% in the price of diesel. This divergent trend came in the wake of adjustments made by Petrobras, and indicators suggest that fossil fuels may maintain this behavior in the following weeks. Meanwhile, ethanol, a more sustainable fuel, proved to be more economical in 15 states across the country.
Gasoline Price Reduction
The average price of gasoline saw a significant drop in October, with the liter being sold at R$ 5.946, further decreasing to R$ 5.881 in the last week of the month. This data is the result of a survey by ValeCard, which analyzed prices at over 25,000 gas stations across the national territory.
Brendon Rodrigues, an innovation specialist at ValeCard, highlights the volatility of the market: “After a small increase at the beginning of October, we witnessed four consecutive drops, culminating in a monthly reduction of 1% in the price of gasoline. The outlook for November is uncertain due to geopolitical tensions that may affect oil prices and, in turn, lead Petrobras to make further adjustments.”
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The states that saw the largest decreases were Rio Grande do Norte, Ceará, and Pernambuco, while the Federal District and Acre had the lowest and highest average prices, respectively.
Ethanol: Price Drop in October
Ethanol followed gasoline in the downward price trend in October, marking an average reduction of 0.97% for the month. The average price of the renewable fuel reached R$ 3.776, falling further to R$ 3.698 in the last week of October.
This price behavior of ethanol is explained by the increase in sugarcane production and, consequently, ethanol itself, according to Rodrigues. “The abundant harvest drove the price drop, even with the slowdown in crushing due to rainfall.”
Ethanol production in the first half of October grew 17.64% compared to the previous year, with hydrated ethanol reaching 1.04 billion liters, a significant increase that reflects in consumers’ pockets.
Ethanol Shows Advantage in 15 States
The choice between gasoline and ethanol is a financial equation for many flex-fuel vehicle drivers. With the price of ethanol being advantageous in 15 states, the scales tend to tip in favor of the renewable fuel. According to ValeCard, for ethanol to be the more economical choice, it must cost up to 70% of the gasoline price, a condition met in several states during the analyzed period.
In summary, the price dance of fuels continues to be a central piece in the economy and decision-making of Brazilian drivers. Keeping track of these trends becomes essential to understanding the fuel market and making more conscious and economical choices.
Source: Gustavo Magaldi.
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