Gasoline rises again at stations after 15 weeks of decline

After 15 weeks of decline, the price of gasoline rose again at Brazilian stations, according to the weekly price survey by the ANP (Agência Nacional do Petróleo, Gás e Biocombustíveis). Last week, the fuel was sold, on average, at R$ 4.86 per liter.

This is an increase of 1.4% in relation to the previous week, as a result of increases in the only private Brazilian refinery, the Mataripe Refinery, which has been closely following the rise in international prices.

Petrobras continues without commenting on readjustments: although the lags remain at high levels, the company is under pressure from the government to hold on to increases at least until the second round of elections.

According to the ANP, the price of gasoline rose in 15 states and the Federal District. The biggest increase, of 10.3%, occurred in Bahia, served by the Mataripe Refinery, which has already promoted two readjustments since oil prices began to rise.

There were also large increases in other states in the North and Northeast, such as Tocantins (7.7%), Sergipe (6.4%), Ceará (5.7%) and Maranhão (4.4%). In some cases, this is also a reflection of the highs in Mataripe, which supplies part of the Northeast region.

But there is also an impact from the rise in anhydrous ethanol, which represents 27% of gasoline sold at gas stations. In the last three weeks, the product accumulates a high of 7% in the plants of São Paulo, according to Cepea (Center for Advanced Studies in Applied Economics) of Esalq/USP.

Despite the rise in oil, Petrobras has not changed the price of gasoline since the beginning of September, when it promoted an average reduction of 7%. The price of diesel has not been adjusted since the 19th, when there was a 5.8% cut.

According to Abicom (Brazilian Association of Fuel Importers), the gap between the average price of gasoline in Brazilian refineries and the import parity was 8%, or R$ 0.30 per liter, at the opening of the market this Monday. (17).

In the case of diesel, the lag was 12%, which means that the average Brazilian price was R$ 0.70 per liter below the import parity, a concept that simulates how much it would cost to import the product from the closest suppliers.

At the pumps, the price of diesel remained stable compared to the previous week. According to the ANP, the fuel was sold, on average, at R$ 6.51 last week, R$ 0.01 more than two weeks ago.

The average price of hydrous ethanol at Brazilian gas stations rose for the second consecutive week, to R$3.46 per liter. The value is 1.7% higher than the one verified by the agency two weeks ago.

According to the ANP, the price of cooking gas also rose last week, to R$110.99 per 13-kilogram cylinder, up 0.3% over the previous week.

The fall in fuel prices was used in the first round as one of the trump cards of the campaign for the reelection of President Jair Bolsonaro (PL), whose image was eroded by the escalation of inflation in the first half of the year. In the first round campaign, the president and allies visited posts in Brazil and abroad.

Last week, however, international prices soared after a two million barrels per day cut in production by OPEC (Organization of Petroleum Exporting Countries), limiting the state-owned company’s role in the campaign.