Tomorrow (11/03) there will be a new increase in fuel and cooking gas: the rise in the value of a barrel of oil reflects on refineries and Petrobras increases the price of gasoline by 18,8%, diesel by 24,9% and LPG by 16,1 %

Despite the increase in fuel prices, there is a risk of diesel shortages, due to the amounts charged by Petrobras remaining out of date.

Soaring oil prices reflect on Brazilians' pockets. Petrobras announced this Thursday (10/03) new readjustments in the prices of gasoline, diesel and cooking gas. New increase happens after almost 2 months of frozen values ​​in the refineries of the state-owned company. According to Abicon, even with the new readjustment, gasoline and diesel prices continue to be lagged in relation to the prices practiced in the international market.

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"After 57 days without readjustments, as of 11/03/2022, Petrobras will make adjustments to its gasoline and diesel sales prices to distributors," the state-owned company said in a statement.

The average price of gasoline for distributors will rise from R$ 3,25 to R$ 3,86 per liter, that is, an increase of 18,8%. In the case of diesel, the average price practiced per liter will be readjusted from R$ 3,61 to R$ 4,51, that is, an increase that reaches 24,9%.

In the case of LPG (Liquefied Petroleum Gas), better known as cooking gas, we will have a readjustment of 16,1%, where the price practiced per kg will go from R$ 3,86 to R$ 4,48, equivalent to R$ $58,21 for 13 kg.

The product had not been readjusted for 152 days and currently costs R$ 102,64 in the country for a 13 kg cylinder, on average, according to a survey by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Diesel price lag may lead to fuel shortages in Brazil

According to Abicom (which brings together importers) and GSB Consultants, in an interview with the newspaper O Globo, the gap in gasoline, after the readjustment announced this Thursday (10), will be between 8% and 10% in Brazil against the international value. In the case of diesel, the value sold by Petrobras continues, even after the readjustment, between 9% and 11% lower in relation to the prices charged abroad. 

The value of this difference varies at all times, as it depends on the price of oil on the international market. When the price of a barrel rose to almost US$ 140, the lag here reached 40% for diesel and 30% for gasoline. Afterwards, with the retreat of the international quotation, the difference was reduced.

“This year our associates did not import anything. Therefore, there is a risk of punctual fuel shortages in diesel. Refineries here are unable to meet demand for diesel. Today's decision by Petrobras to readjust takes 30 to 45 days for importers to buy fuel and for the product to arrive here,” said Araujo. “We went back to pre-war lags”.

Consultant Gustavo Oliveira de Sa e Benevides, from GSB Consultants, highlighted that the lack of readjustment by Petrobras has been impacting the imports of several companies, which includes large companies operating in Brazil. Yesterday, Ipiranga informed that it is restricting the sale of diesel. 

According to him, if Petrobras did not make the increase this Thursday, it could increase the risk of a lack of fuel in Brazil. 

“We were very behind due to the war in Ukraine, which raised the price of fuel. Despite the readjustment, the gap still persists”, said Benevides.