The price of hydrous ethanol dropped 2.9% at Brazilian gas stations this week, in response to the drop in fuel prices at São Paulo mills. With anhydrous ethanol also cheaper, the price of gasoline fell for the third week in a row, but with less intensity.
According to the ANP (National Agency for Oil, Gas and Biofuels), the liter of hydrated ethanol was sold in the country, on average, at R$ 4,794 this week. In one month, the accumulated drop in fuel pump price is 5.1%.
The movement reflects the pass-through, albeit late, of the reduction in prices at the São Paulo mills. Since November, when the downward curve started, the product became 22% cheaper for fuel distributors.
In the market, there are criticisms with the speed of transfers in view of the significant drop in the sale price of the plants, as a result of the drop in demand for fuel.
“The drop in producer prices, which should be benefiting final consumers who have access to the product at the supply pumps, has not been transmitted with the same intensity and speed, as would be expected to occur”, said Plínio Nastari, president of the consultancy Datagro.
“The evolution of prices in the last three months indicates that, while the price of hydrous ethanol to the producer fell by more than R$1 per liter in São Paulo, in the same period the price to the consumer fell by only about R$0.44 per liter. .”
The consultancy S&P Global Platts believes that, with the increase in the difference between the price of ethanol and gasoline, the Brazilian consumer should start opting for biofuel, which could pressure prices again before the beginning of the harvest.
With cheaper anhydrous ethanol, gasoline dropped 0.3% this week to an average price of R$6,617 per litre. In one month, the accumulated drop is 0.27%. Biofuel represents 27% of gasoline sold at Brazilian gas stations.
The price of diesel remained stable, at R$ 5,589 per liter. The last readjustment of gasoline and diesel at Petrobras refineries took place on January 11th.
Fuel distributors, however, warn of the risk of pressure on both diesel and gasoline from the soaring prices of Cbios, the sector’s carbonization certificates.
The bonds surpassed the R$ 80 barrier this week, more than double the 2021 average and, according to companies in the sector, the transfer to the pumps of the increase in the cost of acquiring certificates is inevitable.
According to the ANP, the price of CNG (vehicle natural gas) continues to rise, with transfers of the increase in fuel prices after the end of a significant portion of Petrobras’ contracts with piped gas distributors.
This week, CNG was sold in the country, on average, at R$ 4,542 per cubic meter, up 1.9% in a month. The trend is that the elevation will intensify in the coming weeks, after the authorization of readjustment in the prices of Rio, the biggest consumer.
From this Saturday (13), the distributors that serve the state will apply readjustments of 2% to 13% in their tariffs, depending on the consumption class. CNG, with taxes, will rise 13.3%, on average.
The readjustments were authorized by Agenersa (Regulatory Agency for Energy and Sanitation of the State of Rio de Janeiro) on Thursday (10), considering that the new contracts had an impact of 16% on the cost of distributors with the purchase of gas.
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