May 26, 2024

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Consumers are already paying over R$7 more in fuel;  The average price is R$5.86, says the National Ports Agency

Consumers are already paying over R$7 more in fuel; The average price is R$5.86, says the National Ports Agency

price gasoline The amount already popular has exceeded R$7 in Rio Grande do Sul and reached R$6.99 per liter in Acre last week, according to a weekly survey by the National Agency for Petroleum, Natural Gas and Biofuels (ANP). The average rate exercised across the country, at R$ 5,866, increased by 0.22% between August 8 and 14 (latest data available) and accumulated an increase of 0.60% in the month.

For experts, the dollar has a significant impact on this behavior, but other factors also influence the cost.

Oil derivatives rise the lower the exchange rate (that is, the real is cheaper) and the price per barrel increases, explains the director of the Brazilian Center for Infrastructure (CBIE), Adriano Perez.

Yesterday, the dollar in cash closed at 5.3848 Brazilian RealLondon-traded Brent oil for October closed at $65.18 a barrel. We are living in an electoral period and there is a lot of confusion in the government. I think the pressure will continue through the exchange rate.

In the composition of the price of gasoline, the share of Petrobras is the largest, at 32.9%. The company held 98% of the refining market until 2019, when the Administrative Council for Economic Defense (KED) committed to selling half of its refineries.

For now, the only thing that has actually been sold is from Bahia, which remains with Mubadala, the UAE’s sovereign fund.

Maintaining parity in international prices is essential to attract interested parties to other refineries. Another factor highlighting the need to strengthen Petrobras’ international price parity policy is the fact that Brazil needs to import fuel to supply the domestic market.

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Roughly 7% of the gasoline consumed in the country between January and June of this year came from abroad, says Downstream CEO at the Brazilian Institute of Oil and Gas (IBP), Valeria Lima.

“There is no point in blaming Petrobras. The gearbox is definitely pushing a lot, and if it were less, then it would be gasoline as well. This is a consequence of economic policy, after all, the exchange rate reflects our macroeconomic conditions,” he said.

/ Photo: Ricardo Moraes / Reuters

There are other determinants of the final price, the outlet stands out. Biofuel, which is also included in the final mixture, also rose – the case of anhydrous ethanol, which is added at an average of 27% in ordinary gasoline and represents 15.9% of the final price. Gross resale and distribution margins, in turn, are estimated at 11.7% of the final price.

President Jair Bolsonaro has always mentioned that the ICMS (state tax) is also a villain in fuel prices and is responsible for 27.9% of the final value. Federal taxes — Cide, PIS, and Cofins — account for another 11.6%.

Each state is competent to determine the rate. According to data from the National Trade Federation fuel (fuel), between 25% and 34% in gasoline, depending on the condition.

Brazilian gasoline is not among the most expensive in the world. The average global price, according to the World Petroleum Price website, was $1.20 per liter on August 16 and $1,115 in Brazil — a value without subsidies and taxes.

The cheapest is Venezuela, at $0.020 per liter, while Lebanon has the most expensive, at $2,564.

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Information from O Estado de S. Paulo newspaper.