With New Gasoline Price Hike Announced by Petrobras, Fuel Hits 73% Increase Year-To-Date

Written by Fabio Lucas Carvalho

Published on 25/10/2021 at 21:27

Foto: Marcello Casal jr/Agência Brasil

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Petrobras Announces New Gasoline Price Increase at Refineries and Increases Cumulative Percentage for the Year

The Brazilian has already gotten used to news of gasoline price increases. This Monday, 25, the news of the new increase in gasoline and diesel prices was announced by Petrobras. The liter of gasoline will be 7.04% more expensive at refineries, while diesel will see an increase of 9.15%.

The new prices for the price of gasoline and diesel will take effect this Tuesday, 26. With the new increase, the cumulative price increase for gasoline this year has reached an incredible 73%, while the price of diesel has hit 65.3%. This is the 11th increase, just this year.

What Does the New Increase in Gasoline Price Mean?

With the new increase in refinery gasoline prices, the average price per liter of the fuel will go from R$ 2.98 to R$ 3.19. This means that the increase will be R$ 0.21 per liter. Certainly, the impact at the pump will be greater.

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Petrobras gasoline price fuel — **Image of a fuel pump. Photo: Agência Brasil**

This was the second gasoline price increase just this month of October. On the 9th, the price of gasoline saw an increase of 7.2% in refinery prices. The price per liter of diesel will go from R$ 3.06 to R$ 3.34, with an increase of R$ 0.28.

Oil Barrel Price Continues to Rise

Since October 9, when there was the last increase in refinery gasoline prices, the price of a barrel of Brent crude oil, a reference in international pricing, has increased by 4%, reaching US$ 86.35.

The continuous rise in fuel prices primarily stems from the increase in international barrel prices, as well as the devaluation of the real against the dollar. Petrobras emphasized that it continues to apply international market prices.

“Aligning prices with the international market is especially relevant at the moment we are experiencing, with the atypical demand received by Petrobras for the month of November.”

According to Ticket Log, a fleet management company, the average price per liter of gasoline is costing R$ 6.69, and the average price per liter of diesel is already at R$ 5.48. However, the price of gasoline per liter can easily be found above R$ 7.00 in several regions of the country.

With New Gasoline Price Hike Announced by Petrobras, Fuel Hits 73% Increase Year-To-Date

Petrobras Announces New Gasoline Price Increase at Refineries and Increases Cumulative Percentage for the Year

What Does the New Increase in Gasoline Price Mean?

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