Petrobras announced this Thursday (28) a new cut in the price of gasoline, this time by 3.9%. It is the second price reduction in the management of Caio Paes de Andrade, who took over the company at the end of June.
As of this Friday (29), the liter of gasoline sold by the state-owned refineries will cost, on average, R$ 3.71 per liter, a reduction of R$ 0.15 per liter. The previous reduction, announced on the 19th, had been 4.9%.
Petrobras estimates that the transfer of the new cut to the pumps will be R$ 0.11 per liter, since the final product is 73% gasoline and 23% ethanol.
“This reduction follows the evolution of reference prices, which have stabilized at a lower level for gasoline,” the company said in a statement.
“And it is consistent with Petrobras’ pricing practice, which seeks to balance its prices with the global market, but without passing on to domestic prices the conjunctural volatility of international quotations and the exchange rate”, he added.
With the two cuts, the price of gasoline at the state-owned refineries has dropped by 8.6% since the beginning of the administration of Paes de Andrade, who took over the company with the mission of avoiding further increases during the election period.
His work has been made easier by the drop in international oil prices, amid fears of a global recession.
According to an estimate by Abicom (Brazilian Association of Fuel Importers), the average price of gasoline in Brazilian refineries was R$ 0.07 per liter above international prices at the opening of the market this Thursday.
The market, however, has shown great volatility: on Tuesday (26), Brazilian refineries sold the product with a lag of R$ 0.07 per liter in relation to the import parity.
Consumers are already benefiting from cuts in federal and state taxes on fuel, approved in a law sanctioned by President Jair Bolsonaro (PL) at the end of June.​
Since then, the average price of gasoline at Brazilian stations has dropped 20.3% to R$5.89 per liter, the lowest level since April 2021, in inflation-adjusted values.
The price of diesel, which was no longer subject to federal taxes and had lower ICMS rates, was less affected by the measures passed by Congress, with a drop of just 1.2% at pumps after the state tax cuts.
The price of the product will not change at refineries and is R$ 0.10 per liter more expensive in Brazilian refineries, according to data from Abicom.
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