Data from Abicom (Brazilian Association of Fuel Importers) show that the decline in oil prices shortly after the mega-increase promoted by Petrobras reduced the lag in the domestic price of diesel to just 2%.
According to this projection, the average price of diesel in Brazil started the day at just R$0.10 per liter below the import parity, a concept used by Petrobras to define its prices that consider the cost of bringing the product from abroad.
It is the lowest value since the end of December. The trend is for the lag to narrow even further, as international oil prices remain low this Tuesday (15), with Brent oil operating below US$ 100 for the first time in about a month.
A day before the 24.9% readjustment promoted by Petrobras, the average price of diesel in the country was R$ 1.17 per liter below the import parity, a lag of 24%. Two days earlier, the difference was R$2.54, or 40%.
In Bahia, supplied by the first private Brazilian refinery, the price of diesel is 1% above import parity, according to Abicom. Controlled by the Arab fund Mubadala, the Mataripe Refinery has been passing on increases in the international market more frequently.
Petrobras’ adjustments were announced on Thursday (10), effective from Friday (11). In addition to diesel, Petrobras increased the price of gasoline, by 18.8%, and of cooking gas, by 16.1%. The increases provoked a strong reaction among consumers, in the political world and in the government itself.
According to Abicom, the lag in the price of gasoline was 4% at the beginning of the day, with the liter of fuel being sold in Brazil for a value of R$ 0.25 below the import parity.
The reduction of lags virtually eliminates the need for further increases to accommodate domestic prices to the escalation of international quotations after the outbreak of the war in Ukraine. On the contrary, it should increase the pressure on Petrobras.
The Brent price fell 5.12% on Monday and maintained the downward trend in Tuesday’s trading, in the face of news about a new outbreak of Covid-19 in China, which generated new fears of interruption of the global logistics chain and its effects on the economy. .
If the movement continues, the government and opposition should pressure the state-owned company to reduce its prices, although the company has operated with lags for a long period in 2022, when it spent 57 days without changing the prices of its main products.
In the first weekend after the Petrobras readjustment, the average price of gasoline in the country reached R$ 7.47 per liter, according to a survey carried out at the request of the sheet by the fleet management company ValeCard.
The value is higher than the record verified by the ANP (National Agency of Petroleum, Gas and Biofuels) in November 2021, of R$ 6,795, already adjusted for inflation.
I have over 8 years of experience in the news industry. I have worked for various news websites and have also written for a few news agencies. I mostly cover healthcare news, but I am also interested in other topics such as politics, business, and entertainment. In my free time, I enjoy writing fiction and spending time with my family and friends.
