Average gasoline price drops 2.5%, in fifth straight week

The average price of gasoline dropped another 2.5% at Brazilian stations this week, reaching R$5.74 per liter, the lowest value since February 2021, in inflation-adjusted values. The drop reflects tax cuts at the end of June and the two refinery price reductions promoted by Petrobras in July.

It is the fifth straight week of retreat. According to the ANP’s weekly price survey (Agência Nacional do Petróleo, Gás e Biocombustíveis), the accumulated drop in the price of gasoline since the tax cuts reached 22.3%, or R$1.65 per litre. .

The cheapest gasoline in the country was found by the agency in Mogi Mirim (SP), at R$ 4.92 per liter. The most expensive was found in Barueri (SP), at R$ 7.49 per liter.

Also benefiting from tax cuts, the price of hydrous ethanol fell 2.5% in the week, to R$ 4.21 per litre. Since the end of June, the accumulated drop is 13.5%. ANP research found ethanol at R$3.45 per liter in Presidente Prudente (SP).

The drop in fuel prices is celebrated by President Jair Bolsonaro (PL) and allies, given the possibility of regaining part of the electorate on the eve of the election. In search of a second term, Bolsonaro is 18 points behind the leader of the polls, Lula (PT), according to the latest Datafolha.

With less impact from the measures approved by Congress and without cuts in Petrobras’ refineries, however, the price of diesel dropped just 0.2% this week, to R$7.42 per liter. In five weeks, the cumulative drop is only 2%.

This Friday (29), in a conference call to detail the R$54.3 billion profit in the second quarter, which was boosted by record fuel prices, Petrobras’ management said it did not expect a drop in diesel prices until the end of the year. year.

“We see a scenario of maintaining prices of derivatives similar to the current ones, especially in the case of diesel, which has an impact of the approach of winter in the northern hemisphere”, said the director of Commercialization and Logistics of the company, Claudio Mastella.

Mastella stated that the new guideline for the company’s pricing policy, approved earlier this week, does not change the search for parity with international product quotations. On the contrary, he stated, it gives the council the mandate to enforce compliance with this policy.

“The council now has the attribution of collection of results. The focus is clearer, more robust, for the benefit of the company,” he said.

According to the ANP, the price of cooking gas was practically stable during the week, being sold at R$ 111.75 per 13-kilogram cylinder. The price of CNG (vehicle natural gas) was also stable, at R$ 5.07 per cubic meter.