Petrobras reduces gasoline price by 3.1%

Petrobras announced this Tuesday (14) that it will cut the sale price of gasoline at its refineries by 3.1%. The reduction, of R$ 0.10 per liter, starts to take effect on Wednesday (15) and follows the drop in international prices for the product.

It is the first reduction in fuel prices since early June. After the cut, the average sale price of the fuel at the state-owned refineries will be R$ 3.09 per liter.

In a statement, the company stated that the adjustment “reflects, in part, the evolution of international prices and the exchange rate, which stabilized at a lower level for gasoline”. In recent weeks, international prices have been impacted by fears about the omicron variant.

The scenario led President Jair Bolsonaro (no party) to say earlier this month that Petrobras was about to announce price cuts. The readjustment did not take place in the week indicated by the President of the Republic, but a week later.

Bolsonaro’s statements generated a new process at the CVM (Securities Commission) to check compliance with the rules for the disclosure of news, material facts and communicated by companies with shares traded on the stock exchange.

Shortly after the repercussion, Bolsonaro denied having had inside information. “Do you need to have a crystal ball to know that you have to lower the price of gasoline, dropping Brent (oil)? I think it dropped to $10. Dawn Palace.

Petrobras’ pricing policy works with a concept known as import parity, which simulates how much it would cost to bring fuel from abroad to the domestic market. The model is criticized by the opposition and unions, but defended by the oil sector.

“Petrobras reiterates its commitment to the practice of competitive prices and in balance with the market, while avoiding the immediate transfer to internal prices, external and exchange rate volatility caused by cyclical events,” stated the state-owned company .