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October reveals variation in fuel prices in Brazil
October was a month of mixed signs for fuel prices in the Brazilian market. The numbers show a reducing in the cost of gasoline by 1% and ethanol by almost 1%, contrasting with a small increase of 0,22% in the price of Diesel. This divergent trend came in the wake of adjustments made by Petrobras, and indications suggest that fossil fuels may maintain this behavior in the following weeks. Meanwhile, the ethanol, a more sustainable fuel, proved to be more economical in 15 states across the country.
Gasoline presents price reduction
The average price of gasoline suffered a significant drop in October, with a liter being sold at R$5,946, reducing further to R$5,881 in the last week of the month. This data is the result of a survey by ValeCard, which analyzed prices in more than 25 thousand stations across the country.
Brendon Rodrigues, innovation specialist at ValeCard, highlights the market's volatility: “After a small increase at the beginning of October, we witnessed four consecutive drops, culminating in a 1% monthly reduction in the price of gasoline. The scenario for November is uncertain due to geopolitical tensions that could affect the price of oil and, by extension, lead Petrobras to make new adjustments.”
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The states that saw the biggest 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% in the month. The average value of a liter of renewable fuel reached R$3,776, falling further to R$3,698 in the last week of October.
This behavior in the price of ethanol is explained by the increase in the production of sugar cane and, consequently, of ethanol itself, according to Rodrigues. “The abundant harvest drove the fall in prices, even with the slowdown in the crushing rate due to the rain.”
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 on the consumer's pocket.
Ethanol shows advantage in 15 states
The choice between gasoline and ethanol is a financial equation for many flex vehicle drivers. With the price of ethanol advantageous in 15 states, the balance tends to tip towards renewable fuel. According to ValeCard, for ethanol to be the most economical choice, it must cost up to 70% of the price of gasoline, a condition met in several states during the period analyzed.
In short, the dance of fuel prices continues to be a central piece in the economy and in the decisions of Brazilian drivers. Monitoring these trends is essential to understand the fuel market and make more conscious and economical choices.
Source: Gustavo Magaldi.
