Fuel becomes more expensive from this Thursday with an increase in ICMS

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February begins with the ICMS (Tax on Circulation of Goods and Services) rates on gasoline, diesel, biodiesel and cooking gas readjusted starting this Thursday (1st).

Confaz (National Council for Finance Policy), which brings together the Finance Secretaries of all States, approved the new rates in October last year, effective from February this year. It was the first tax increase since it began to be charged at a single national rate, according to Metrópolis.

The ICMS on gasoline will rise by R$0.15, from R$1.22 to R$1.37. The price of diesel and biodiesel will increase by R$0.12 and cost R$1.06. The cooking gas tax rate, in turn, will have the biggest difference: from R$0.16 to R$1.41 per kilo.

In addition to this adjustment, which will take place on Thursday at distributors, on Tuesday (30) there was an increase of R$0.10 in ethanol and R$0.07 in gasoline, as a result of the increase in anhydrous production in sugarcane plants.

single ICMS

The ICMS on fuels was unified, stipulating a period of one year for the first rate change. After that, reviews would be carried out every six months.

In addition to the single rate, the ICMS started to be calculated in reais per liter, and no longer as a percentage of the price at the pump.

The new ICMS calculation basis came into effect on July 1, 2023. Until then, each state charged a percentage of the reference price, defined every 15 days through surveys at gas stations.

In 2023, the Union made an agreement to compensate states and municipalities for tax waivers carried out by the federal government in 2022.

The Union needed to cover ICMS losses with the reduction in fuel tax the year before last, still under Bolsonaro’s government.

(Photo: Ana Laura Menegat, Jornal Midiamax)

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The article is in Portuguese

Tags: Fuel expensive Thursday increase ICMS

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