Across Brazil, gasoline will rise to an average of R$5.71, taking into account the average price of the product based on ANP research. Diesel oil, on the other hand, will have an average increase of R$0.12, reaching an average of R$5.95, and Diesel S-10 could be above R$6.00 per liter, on average.
The increase reflects the decision of several states to readjust the ICMS for products in general to compensate for revenue losses. Previously, ICMS was charged according to a percentage of the total price defined by each federation unit.
Now, the tax is charged at a fixed amount per liter, in the case of gasoline or diesel, or per kilogram, in the case of cooking gas.
Tax lawyer Yukio Vatari states that the value of the adjustment is related to the economy’s basic interest rate, the Selic, in the 12-month period before Confaz’s decision. “It would be a recovery of the value lost over time, since the Selic gave more or less 12% to 13% as well”, he states.
Before the ICMS increase, fuel had already become more expensive due to the resumption of federal taxation. The main impact is on diesel, which also has an impact on the price of everything transported on the country’s highways, such as food, for example.
Just before the increase in federal taxes, at the end of December last year, Petrobras reduced the price of diesel sold in its refineries by R$0.30 per liter.
Considering the mixture of fuel with biodiesel, which is sold at gas stations, the reduction would be R$0.26 per liter – partially offsetting the increase in PIS/Cofins.