The average price of gasoline dropped 2.7% at Brazilian stations this week, reaching R$ 5.25 per liter, according to a weekly survey released by the ANP (National Agency for Petroleum, Gas and Biofuels). It is the lowest value since January 2021, after adjusting for inflation.
It was the ninth straight week of decline, in response to tax cuts passed by Congress at the end of June and price cuts at Petrobras refineries. Since the record of R$ 7.39, in the penultimate week of June, the accumulated drop is 28.9%, or R$ 2.14 per liter.
The price of diesel oil, which also saw cuts at refineries in recent weeks, dropped 1.7% at pumps this week, to R$6.93 per litre. Since the week in which the tax cuts were sanctioned, the cumulative drop is 8.4%, or R$0.64 per litre.
It is lower than that of gasoline because diesel was less impacted by the law, as the government had already zeroed federal taxes and most states already had rates lower than the ceiling established by Congress.
According to the ANP, the price of ethanol also continues to fall in the country, closing the week at R$ 3.84 per liter, a decrease of 3.5% compared to the previous week.
Reducing fuel prices is one of the main assets of President Jair Bolsonaro’s (PL) reelection campaign, after a first semester of damage to the image with the escalation of prices at pumps.
The president said last week he expected further cuts and again promised that Brazil will have one of the cheapest gasoline in the world. At the opening of the market this Friday, the average price of gasoline in Brazilian refineries was R$ 0.22 per liter above import parity.
Diesel, on the other hand, is R$ 0.26 per liter below the international price, according to an estimate by Abicom (Brazilian Association of Fuel Importers).
According to data released this Monday (22) by the Global Petrol Prices website, Brazil occupies the 37th position among the cheapest gasolines in the world, a jump of 12 positions in relation to the position of the previous week.
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