New ICMS rate on fuels comes into force today | Economy

New ICMS rate on fuels comes into force today | Economy
New ICMS rate on fuels comes into force today | Economy
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1 of 1 Fuel

Fuel Photo: Flickr/BA Government

The new ICMS rate on fuels comes into effect this Thursday (1st), which should cause an increase in the price of gasoline, diesel and cooking gas.

The new state tax rate was approved in October by the National Council for Financial Policy, which brings together representatives from the 26 states and the Federal District, and is valid until the end of 2024. This is the first increase in the ICMS after the change in the collection of the tax on fuels.

In 2023, a complementary law was sanctioned establishing a fixed tax system per liter of fuel, which would be the same in all states.

With today’s increase, the ICMS charged on a liter of gasoline will go from R$1.22 to R$1.37; in the case of diesel, it will go from R$0.90 to R$1.06; and it will rise from R$1.25 to R$1.41 per kilo of cooking gas.

If this increase is passed on entirely to the consumer, the price of gasoline will increase from R$5.56 to R$5.71; that of diesel will rise from R$5.83 to R$5.95; and the gas cylinder will increase from R$100.98 to R$103.06.


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