The price of gasoline dropped another 1.5% at Brazilian gas stations this week, according to a survey by the ANP (Agência Nacional do Petróleo, Gás e Biocombustíveis). It was the tenth consecutive week of decline, driven by tax cuts and reductions in Petrobras refineries.
According to the ANP, the average price of fuel was R$ 5.17 per liter, R$ 0.08 less than the previous week. It is the lowest level since November 2020, in inflation-adjusted values.
Since the peak of R$ 7.39 reached in the penultimate week of June, the accumulated drop is 30%, or R$ 2.22 per liter. The expectation is for a further decline next week, as Petrobras again reduced the sale price at its refineries this Friday (2).
The sharp drop in prices started in late June, when Congress approved federal tax exemptions and a cap on the ICMS tax rate on fuel. It intensified with cuts promoted by Petrobras in the sale price of its refineries, following the drop in oil prices.
Between July and August, the price of gasoline was reduced four times at Petrobras refineries, with an accumulated drop of 19.2%.
This week, the cheapest gasoline in the country was found by the ANP in Passo Fundo (RS), at R$ 4.33 per liter. The most expensive was found in Tefé (AM), at R$ 6.76 per liter. The fuel can already be found for less than R$5 per liter in 20 states and the Federal District.
According to the ANP survey, the price of diesel dropped 0.4% this week, to R$6.90 per liter. Less impacted by tax cuts, the product accumulates a drop of 8.8%, or R$ 0.67 per liter, since the peak of R$ 7.57 observed at the end of June.
The price of hydrous ethanol fell 3.4% in the week, to R$ 3.71 per litre, informed the ANP. The fuel was found at less than R$3 per liter in two states: Mato Grosso and São Paulo.
The government is counting on falling fuel prices to reverse damage to its image caused by the escalating inflation at the beginning of the year. Petrobras even revised its disclosure policy, issuing announcements about price cuts for products that were not disclosed before.
Appointed to head Petrobras with the mission of holding prices down, Caio Paes de Andrade has had his work made easier by the drop in international prices, in response to fears of global recession and new lockdowns in China.
Even with the 7% cut announced this Thursday (1st) by Petrobras, the average price of gasoline in Brazilian refineries opened the trading session this Friday R$0.21 per liter above the import parity, a concept used by the state-owned company in its policy of fuel prices.
Diesel, on the other hand, was R$ 0.20 per liter more expensive, according to an estimate by Abicom (Brazilian Association of Fuel Importers).
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