Petrobras wants to clarify fuel prices once and for all – Money Times

Petrobras Fuels Gasoline Ethanol
The piece will highlight the weight of the state tax, the ICMS, in the formation of the final price of gasoline (Image: REUTERS/Max Rossi/File Photo)

THE Petrobras (PETR4) will start this Friday a campaign to clarify the price of Gasoline, which in some gas stations in the country is already close to 7 reais per liter, according to company sources.

In a video, which will initially be released on Petrobras channels, but should become a publicity piece, the company will show that it receives only 2 reais from the sale value at the pumps at the gas stations, according to the sources, who asked not to be named.

The piece will highlight the weight of the state tax, the ICMS, in the formation of the final price of gasoline.

the value of ICMS, according to company calculations based on a pump price of 6 reais/liter, would be equivalent to 1.65 reais per liter, on average, since the tax varies between states.

The remainder refers to the value of anhydrous ethanol added to gasoline, in addition to distributor and dealer margins, and also by federal taxes such as PIS/Cofins and Cid.

The disclosure takes place within days of pro and anti-government acts scheduled to take place on September 7 in the country.

“Cide, PIS and Cofins affect the Petrobras share. ICMS on the entire chain has a strong weight. It is 1.65 (real/liter). Every time the price changes, the state’s tax revenue also changes, while the taxes federal governments focus on the base,” said the source.

“It’s an awareness campaign,” added another source.

The issue of impact on ICMS is a flag of the president Jair Bolsonaro, which generally attributes to States part of the increase in fuels.

A bill to change the ICMS on fuels, establishing a fixed amount in the States, was even sent to Congress.

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