The price of gasoline at Brazilian stations fell 12% in the first three weeks of August, as a result of cuts made by Petrobras in its refineries. The account is from the fleet management company TicketLog, which believes in maintaining the downward trend.
According to TicketLog, a liter of fuel cost, on average, R$6.50 at the close of July and dropped to R$5.72 this week, a drop of R$0.78. At the end of July, Petrobras announced two cuts in its sales prices. This week, it lowered the price once again.
The cuts accompany the drop in international oil prices, according to the state-owned company, and have been celebrated by the government. This Thursday (18), President Jair Bolsonaro (PL) said in his weekly live to expect further reductions.
“I hope that the price of gasoline will continue to fall,” said the president. “Logically, this price has to do with the dollar, which has been falling, and also the price of oil abroad.”
The main indicator of fuel prices at Brazilian gas stations, the weekly survey by the ANP (Agência Nacional do Petróleo, Gás e BiocombustÃveis) has not been released since late July, due to a hacker attack on the agency’s website.
According to TicketLog, the average price of gasoline at Brazilian stations dropped 0.4% this week. On Monday (15), Petrobras announced a 4.8% cut in the sale price of the product at its refineries.
“It is necessary to wait for the behavior of prices in the coming days, but the most likely is that the average price of gasoline will continue to drop”, said Douglas Pina, General Director of Mainstream of the Fleet and Mobility Division of Edenred Brasil, which controls the TicketLog.
According to Abicom (Brazilian Association of Fuel Importers), the average price of gasoline in Brazilian refineries was R$ 0.27 per liter above the import parity at the opening of the market this Friday (19).
The domestic price has been higher than the international price since July 27, even with the cut announced by the state-owned company on Monday.
At the pumps, the price of gasoline has been falling at stations since the end of June, when Congress passed a law that established a ceiling for the ICMS tax rate and zeroed federal taxes on the product.
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