Fuel and cooking gas become more expensive this Thursday with new ICMS

Fuel and cooking gas become more expensive this Thursday with new ICMS
Fuel and cooking gas become more expensive this Thursday with new ICMS
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01/02/2024 6:55, updated 02/01/2024 8:16

Starting this Thursday (1/2), fuel and cooking gas will become more expensive, due to the increase in the Tax on Circulation of Goods and Services (ICMS) rates. This is the first increase in the tax, under state jurisdiction, since 2022, when the government of then president Jair Bolsonaro set the ICMS charge through a single national rate.

The increase is due to a decision by the National Council for Financial Policy (Confaz), which brings together the Finance Secretaries of all units of the Brazilian Federation. The states approved the new rates in October last year, effective from February this year.

New fuel values

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, from R$0.94 to R$1.06.

The cooking gas tax rate, in turn, will increase from R$0.16 to R$1.41 per kilogram.

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In addition to this adjustment that will take place on Thursday at distributors, this Tuesday (30/1) 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 rate

A law unified the ICMS, 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 tax reduction the year before last, still under the Jair Bolsonaro (PL) government.

The article is in Portuguese

Tags: Fuel cooking gas expensive Thursday ICMS

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