Fuel and cooking gas prices rise this Thursday with new ICMS

Fuel and cooking gas prices rise this Thursday with new ICMS
Fuel and cooking gas prices rise this Thursday with new ICMS
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By Ligado no Sul02/01/2024 08:09

Photo/Disclosure Agência Brasil

Starting this Thursday, February 1st, fueling the vehicle and cooking at home will become more expensive for Brazilian consumers. The reason is the increase in the Tax on the Circulation of Goods and Services (ICMS) on gasoline, diesel and cooking gas, a decision adopted by several states to compensate for revenue losses.

The increase in ICMS rates, from 18% to 20% in most cases, was approved in October by the National Council for Finance Policy (Confaz), which brings together the state finance secretaries. This adjustment is the first after the change in the ICMS charging model sanctioned by former president Jair Bolsonaro in March 2022.

Previously, ICMS was calculated as a percentage of the total price, varying in each federation unit. With the new rule, the tax is charged as a fixed amount per liter (gasoline and diesel) or per kilogram (cooking gas).

The new rates from February 1st are:

– Gasoline: from R$1.22 to R$1.37 per liter
– Diesel: from R$0.9456 to R$1.06 per liter
– Cooking gas: from R$1.2571 to R$1.41 per kilo

This will translate into an average increase in the final price of fuel. Gasoline, for example, will reach R$5.71 per liter, according to calculations based on price research by the National Petroleum, Gas and Biofuels Agency (ANP). Diesel will also have an increase, reaching R$5.95 on average, while Diesel S-10 can exceed R$6.00 per liter.

In the case of cooking gas, the 13 kilo cylinder will have an average increase of R$2.62, going from R$100.98 to R$103.60 on average.

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The article is in Portuguese

Tags: Fuel cooking gas prices rise Thursday ICMS

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