Gasoline price drops another 1.8% and goes to R$ 4.88 per liter, says ANP

The average price of gasoline at Brazilian stations dropped another 1.8% this week, reaching the lowest level since the end of June 2020, in inflation-adjusted values. The price of diesel also fell, following the cut made by Petrobras in its refineries this week.

According to the ANP (National Agency of Petroleum, Gas and Biofuels), the liter of gasoline was sold by the stations, on average, at R$ 4.88 this week, R$ 0.09 less than the previous one. It was the thirteenth consecutive week of decline.

Since the approval of tax cuts on fuel, at the end of June, the accumulated drop is 33.9%, or R$ 2.51 per liter. In addition to the lower tax burden, the decline responds to price reductions at Petrobras refineries in the period.

The ANP did not disclose prices by state and municipalities, claiming that the contract with the company responsible for collecting the data expired on the 13th. A new company will take over the service next week and the detailed data will be released, the agency said.

There was also no disclosure of the price of the gas cylinder, which rose last week even after a 4.7% cut in Petrobras refineries. This week, the state-owned company again reduced the sale price of fuel, by 6%.

The liter of diesel was sold, on average, at R$ 6.71, the lowest level since May. The product was less impacted by the tax cuts approved in June, as it already had zero federal taxes and ICMS rates lower than those established by Congress.

Since the law was passed at the end of June, the accumulated drop is 11.3%, mainly due to price reductions at Petrobras refineries.

Concern among sugarcane producers in the northeast, the fall in the price of hydrous ethanol has slowed down. This week, the product was sold, on average, at R$ 3.41 per liter, 0.6% below the value verified in the previous week.

The drop in fuel prices is one of the strengths of the campaign for the re-election of President Jair Bolsonaro (PL), whose image was eroded by the escalation of inflation in the first half of the year. To generate positive facts, Petrobras started announcing cuts almost every week.

According to data from Abicom (Brazilian Association of Fuel Importers), however, there is currently no room for further cuts in gasoline and diesel prices, which were in line with the import parity at the opening of this Friday’s trading session (23).

Gasoline sold by Brazilian refineries is only R$0.03 per liter above par. Diesel, R$ 0.02 per liter more expensive. These are the lowest values ​​since the end of August.