Petrobras predicts a 10% drop in gas prices after approving new sales modalities

RIVER – A Petrobras approved this Friday, the 10th, new commercial modalities in the sales of natural gas for state distributors and free consumers. With this new mechanism, depending on contracts and volumes handled, distributors will have an additional reduction of up to 10% in gas molecule prices, said the company.

The new discount expands the already accumulated drop of around 25% in the average price of the molecule since the beginning of 2023, with the potential to reach a reduction of up to 35%, the company informed.

For distributors, Petrobras will offer a price reduction mechanism in natural gas sales contracts currently in force, according to their performance. For free consumers, Petrobras will offer a new portfolio of sales products under more customized and competitive conditions.

“In this way, Petrobras intensifies its role in the market opening process, contributing to the expansion and strengthening of a more liquid, competitive and diversified free market,” said Petrobras in a note.

On May 1st, natural gas prices had already been adjusted, with a reduction of, on average, 1.5% in reais per cubic meter (R$/m³) of the molecule sold to distributors, compared to the beginning of the quarter February-March-April 2024.

The price drop also reflected the reduction in the price of Brent oil and the appreciation of the dollar, according to reference indicators provided for in the contracts.