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An article shared by the Reuters portal shows that the refining capacity of the United States (USA) has significantly decreased after having five oil companies closed during the pandemic. Despite this, the ability to production in the country is already at 96%, says the American Automobile Association (AAA) portal. The crisis that is impacting the great world power means that each gallon of gasoline is being negotiated at US$ 5, one of the highest values ever seen since 2008. The prices and high inflation left by the crisis provoked by the war between Ukraine and Russia puts President Joe Biden's popularity on the line and impacts the economy in Brazil.
On June 11th, last Saturday, the value of a liter was being negotiated in the USA US $ 4,986. In view of the significant increase in prices, Biden sees the return of negotiations with Maduro, president of Venezuela, as an alternative. which will be able to sell part of its oil reserves to Europe in order to pay its external debt and, with the greater productivity of the sector, there will be price control caused by the increase in inventories.
Period with a gallon above US$ 5 will remain longer in the US.
Even with the possibility of there is a negotiation to buy Venezuela in relation to its barrels of oil, it is estimated that the value of each gallon will sell for more than US$ 5, or R$ 25 with the direct conversion to the dollar value, to the population for a few more months. “The $5 level is where we can see plenty of demand destruction for gasoline,” said Reid L'Anson, senior economist at Kepler.
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The Mobil station in West Hollywood already has super high prices on the liter of gasoline. Despite this, it is estimated by specialists on the Reuters portal that the United States is at an increase 8% lower than the crisis left by the bursting of the real estate bubble during 2008 and that the value of the gallon was at US$ 5,41, XNUMX, data is owned by the US Department of Energy. Meanwhile, it should be pointed out that one of the biggest drops in the value of the gallon, according to the same sources, they would have happened before the turn of the century.
Consumer spending is resilient in view of inflation – impacts of the oil crisis arrive in Brazil.
A Petrobras argues that the price is charging for each liter of gasoline diesel is out of date with a view to the foreign market. The crisis that arrived in Brazil is the same one left in the United States by the war between Russia and ukraine. After all, the average Brazilian is already having to pay, and in some regions, more than R$ 10 per liter for gasoline.
To contain Brazilian inflation, which has been driven by the international crisis, the government of Bolsonaro has already proposed the creation of a project that provided for the end of ICMS taxation by states. Bolsonaro stated, however, that he would be passing on, through taxes collected on a federal scale, a budget for each state to supply the end of its collections. A promotion carried out by Havan on Zero Tax Day shows that a liter of gasoline without taxes is costing R$5.
Meanwhile, both Petrobras and other companies located both in the United States and in Brazil, focused on oil production and refining, are experiencing high share prices: investors believe that the appreciation will be even more expressive.
