Petrobras reduces gasoline price from Friday – 09/01/2022 – Market

Petrobras reduces gasoline price from Friday – 09/01/2022 – Market
Petrobras reduces gasoline price from Friday – 09/01/2022 – Market

Petrobras announced this Thursday (1st) a 7% reduction in the prices of gasoline sold at its refineries. It is the fourth consecutive cut since mid-July, following the drop in oil prices in this period.

According to the state-owned company, the average price of fuel will go from R$3.53 to R$3.28 per liter, a reduction of R$0.25. The new prices start to take effect this Friday (2) and, considering that the product sold at gas stations is 27% ethanol, Petrobras estimates a transfer of R$ 0.18 per liter to pumps.

On the eve of the announcement, President Jair Bolsonaro had said in an interview that the state-owned company should have “good news” about fuel prices later this week. It is not the first time that Bolsonaro has indicated the possibility of readjustments, although the state company says it does not anticipate decisions to shareholders.

The government is counting on falling fuel prices to reverse damage to its image caused by the escalating inflation at the beginning of the year. Petrobras even revised its disclosure policy, issuing announcements about price cuts for products that were not disclosed before.

In a note distributed this Thursday, the state-owned company says that the cut follows the evolution of reference prices and “is consistent with its pricing practice, which seeks to balance prices but without the immediate transfer of volatilities of international quotations and the exchange rate. “.

Data from Abicom (Brazilian Association of Fuel Importers) indicate that gasoline was being traded by Brazilian refineries at prices above international prices since the end of June, with rare moments of parity and only one day below.

At the opening of the market this Thursday, the average price of fuel in Brazilian refineries was R$ 0.36 per liter more expensive than the import parity, a concept used by the state-owned company in its pricing policy.

According to the bank Goldman Sachs, after the cut, gasoline sold by Petrobras refineries will be 10% cheaper than the international market, a value close to 9%, on average, verified during the year 2021.

The refining margin with the product is around US$ 7 per barrel, just below the US$ 9 per barrel average in 2021. “This leads us to believe that Petrobras’ consolidated refining margins remain at healthy levels,” they wrote. analysts Bruno Amorim, João Frizo and Guilherme Costa Martins.

At the pumps, the price of gasoline has been falling since late June, when Congress passed federal and state fuel tax cuts.

Last week, the ninth consecutive fall, the average price of fuel dropped 2.7%, to R$ 5.25 per liter. Since the record of R$ 7.39, in the penultimate week of June, the accumulated drop is 28.9%, or R$ 2.14 per liter.

The article is in Portuguese

Tags: Petrobras reduces gasoline price Friday Market

PREV Ex-Fazenda opens the game about her husband’s murder
NEXT Candidate for federal deputy suffers assassination attempt and is shot with 11 shots, in Mesquita
-

-

-

-