Petrobras cuts gasoline and diesel prices at its refineries –

Petrobras cuts gasoline and diesel prices at its refineries –
Petrobras cuts gasoline and diesel prices at its refineries –

Rio de Janeiro – Petrobras is going to reduce starting tomorrow (7) the prices of gasoline and diesel sold by its refineries. Gasoline will drop 6.1% and diesel 8.2%. This is the first change in the price of gasoline in more than three months, a period in which the state-owned company even sold the product with high lags in relation to international quotations. The price of diesel remained unchanged since September 20th.
According to the company, the reductions accompany the evolution of reference prices and are consistent with Petrobras’ pricing practice, which seeks “balance with the market, but without passing on to domestic prices the conjunctural volatility of quotations and the interest rate”. exchange”.
Gasoline sold by Petrobras refineries will go from R$ 3.28 to R$ 3.08 per liter, a reduction of R$ 0.20 per liter. The average sale price of diesel for distributors will go from R$4.89 to R$4.49 per liter, a reduction of R$0.40 per liter.
The transfer to the pumps depends on the commercial policies of distributors and service stations.
During the campaign for the first round of elections, Petrobras had been making weekly announcements of falling fuel prices, but suspended the strategy when oil prices started to rise in the campaign for the second round.
It was almost a month with prices below import parity, a concept that simulates how much it would cost to bring products from abroad. In recent weeks, international oil prices have dropped and the company has started to sell more expensive products than abroad.
At the opening of the market this Tuesday (6), the average price of gasoline in Brazilian refineries was 8%, R$ 0.24 per liter, above parity, according to calculations by the Brazilian Association of Fuel Importers (Abicom). The difference in the price of diesel was also 8%, or R$ 0.34 per liter.
The drop in fuel prices during the campaign helped bring down inflation in the country. Last month, however, gasoline rose again at the pumps, with transfers from the increase in anhydrous ethanol, putting pressure on inflation again.
To give you an idea, the Extended National Consumer Price Index-15 (IPCA-15) rose to 0.53% in November, after rising 0.16% in the previous month. It was the highest rate since June, when the index increased by 0.69%, according to data from the Brazilian Institute of Geography and Statistics (IBGE).
The economist at Ativa Investimentos, Guilherme Souza, estimates that the effect of the price cuts announced this Tuesday on the IPCA will be -16bps, distributed practically half and half between the December and January references.
“It is worth noting that, even though Petrobras has announced the negative readjustment as of tomorrow, we estimate that the effect of this drop on consumers will only be felt as of December 13,” he said.
As a result, Ativa’s outlook for the IPCA in December was reduced from 0.84% ​​to 0.75%, while the outlook for January dropped from 0.73% to 0.66%. For the year 2022, Souza expects inflation of 5.9%; in 2023, 5.2%.

Nicola Pamplona

The article is in Portuguese

Tags: Petrobras cuts gasoline diesel prices refineries