Gasoline price rises 2.7% in 2024; understand the reason

O gasoline price and ethanol rose during the first quarter of 2024, according to the Panorama Veloe de Indicadores de Mobilidade, developed in partnership with Fipe (Fundação Instituto de Pesquisas Econômicas).

The price of regular gasoline became 2.7% more expensive in the first three months of the year and 2.8% more for added gasoline, the same percentage increase as ethanol in the period.

S-10 diesel, the least polluting, in turn, fell 1.2%, while the price of regular diesel fell 0.7%, and Vehicle Natural Gas (CNG) 0.5% in the period.

“It is important to note that, in this time frame, the results analyzed still reflect, to some extent, the latest changes made to fuel taxation”, said Veloe in a note this Wednesday, 3.

This year, the collection of Pis/Cofins on diesel and biodiesel was resumed in January, and the adjustment of ICMS – Tax on the Circulation of Goods and Services – on gasoline and diesel, in February.

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March and 12 months

Taking only the month of March into account, the scenario is similar. In comparison with February, both ethanol and added and regular gasoline registered price increases of 1% and 0.5%, respectively, while CNG fell 0.7% and S-10 diesel fell 0.5%. Regular diesel dropped 0.1%.

When comparing the last 12 months ending in March, ethanol registered a drop of 4.5% and CNG of 7.4%.

Regular gasoline rose 5.1% in this comparison, and S-10 diesel rose slightly, 0.3%, while regular diesel rose 0.8%.

“In the comparative cost-benefit analysis between ethanol and gasoline, there were no significant changes in the price parity between gasoline and ethanol in the period, so that the renewable alternative maintained its margin of preference for a large part of Brazilians, especially in Central-Brazilian states. West and Southeast, such as: Mato Grosso, São Paulo, Mato Grosso do Sul, Distrito Federal, Goiás, Minas Gerais and Paraná (in addition to their respective capitals)”, informed Veloe.

According to the Cost-Benefit-Flex Indicator, which lists the average prices of hydrated ethanol and regular gasoline in March 2024, the percentage calculated was 67.2%, on average for the states, and 66.9%, on average capitals – both below the 70% level, which signals a preference for ethanol.