Bolsonaro says that Petrobras readjust now would be to reach government

President Jair Bolsonaro (PL) said this Thursday (16) that, if Petrobras grants a new readjustment in fuels at this time, it would be to hit his government.

The company’s board, which he has already announced his intention to switch entirely, met this afternoon to discuss the price hike.

“I hope that Petrobras does not want to increase diesel, increase gasoline in these days that we are negotiating here with Parliament,” Bolsonaro said in his weekly broadcast on social media.

“I can only understand that it would be a readjustment by Petrobras now with political interest to reach the federal government”, he added.

Bolsonaro did not mention the extraordinary council meeting on Thursday.

Given the values ​​of fuels, especially diesel, well below international prices, Petrobras has been signaling that it will make adjustments.

The increase in fuel prices is the main concern of the government, which seeks to re-elect Bolsonaro.

The president, according to polls, is in second place in polls, behind former president Luiz Inácio Lula da Silva (PT).

For Bolsonaro, Petrobras should at least wait for the measures proposed by the government to be approved and sanctioned before carrying out a new adjustment.

In the last fifteen days, the government released a bill that establishes a ceiling for ICMS tax rates on fuel.

The proposal was approved in Congress on Wednesday (15), but still needs to be signed by the president.

In addition, the government introduced the so-called PEC on Fuels, which allows for zero ICMS on diesel and cooking gas, with compensation from the federal government to the states.

The PEC will be discussed by parliamentarians next week.

The Chief Executive said again in the live that the measures could reduce by R$ 2 a liter of gasoline and R$ 1 a liter of diesel, according to his own accounts.

Bolsonaro repeated the formula of criticism of Petrobras that he has been using in recent months, and said that a new increase in fuel prices would be “evil to the people”.

“The more the people are suffering here, the happier the directors and the current president of Petrobras are”.

For the president, the company could go months without readjusting, contrary to what he called automatic readjustments. But there is a “bit” in passing on the increases, he said.

“There is huge interest from minority shareholders, I can’t explain it, I’m not going to commit any injustice here,” he said.

“The president of Petrobras, the directors, have this courage to immediately readjust the price of fuels. To meet I don’t know what, the interest of the company, of minority shareholders, of foreign pension funds that operate in there, to say that our Petrobras is making a profit and back there it was a loss”, he added.

During the week, the government tried to convince Petrobras to avoid readjustments at this time, so that the benefits reach the consumer’s pocket before new increases in refineries overshadow the effects of the tax reduction.

The fuel sector claims, however, that the transfer will take time, since the distributors have stocks purchased at current rates. The benefit, however, depends on the renewal of stocks, which should take place entirely in ten to fifteen days.

Petrobras declined to comment on the matter. Last week, in response to news about the pressure to hold prices, the company released a note reinforcing the defense of its trade policy, which provides for the monitoring of international quotations.

“The practice of competitive prices and in balance with the market is a necessary condition for the country to continue being supplied without risk of shortages by the various agents”, says the company, which has been warning the government of risks of lack of products in the second half.