government makes OPTIMISTIC pronouncement on future readjustments

The President of the Republic, Jair Bolsonaromade an optimistic statement about the fuel price. According to him, a new pricing policy for the Petrobras should begin to take effect, and the official announcement may be made by the state-owned company by the end of this week.

FUEL PRICES: government makes OPTIMISTIC pronouncement on future readjustments. (Image: FDR)

Despite having already stated on several occasions that it does not interfere with the fuel price applied by Petrobras, Bolsonaro felt pressured to take action amid the constant highs that prevailed for months. Foolish, citizens, especially professional drivers, demanded some attitude from the President to alleviate the situation.

In this sense, in the month of June O Federal government exchanged for third timethe direction of Petrobraswhich is now headed by Caio Mário Paes. In AugustO fuel pricelike nowgasoline, ethanol and S-10 dieselpresented a average recoil greater than 5%. The impact comes, above all, from the reductions in the prices of the state-owned refineries.

“Fuel every week we have good news. Today is Wednesday, I think by Friday there will be more good news because it is being a practice of the new president of Petrobras”, said Bolsonaro.

Fuel price policy

In JulyO Petrobras Board of Directors approved the Pricing Guideline in the Internal Market. The rule should affect the oil and natural gas derivatives sold on the domestic market. The standard incorporates an extra layer of oversight of the execution of pricing policies by the Board of Directors and Supervisory Board.

At first, supervision should take place on a quarterly basis on the part of Board of Directors, only formalizing an existing practice. However, the guideline should not change the company’s fuel pricing policy. Petrobrasmatching the national and international markets.

“It is worth noting that the aforementioned approval does not imply a change in the current pricing policies in the domestic market, in line with international prices, nor in the company’s Bylaws,” Petrobras said.

Fuel price outlook

The week started with new expected reduction in gasoline prices in the Brazilian domestic market. Even so, the international oil market is not doing well, considering that the US oil barrel had a rise above 4%getting at US$ 97.01.

O Brent type barrelwhich is used as a reference by the Petrobras for its price parity policy, also rose by more than 4%closing in US$ 105.09.

According to experts in the oil and derivatives market, until the August 29th, gasoline prices on the domestic market were higher than international parameters.

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THE Brazilian Association of Fuel Importers points to a lag of BRL 0.27. On the other hand, the director of the Brazilian Infrastructure Center, Pedro Rodriguesthink there is possibility of a price reductions, especially from Gasolinein the next days.


Laura Alvarenga

Laura Alvarenga has a degree in Journalism from the Centro Universitário do Triângulo in Uberlândia – MG. She started her career in the field of communication, spent a few years working in small local print newspapers and is now pursuing a career in online journalism through the FDR portal, where she researches and produces content on economics, social rights and finance.

The article is in Portuguese

Tags: government OPTIMISTIC pronouncement future readjustments

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