Gasoline crosses BRL 8 barrier for the first time – 01/28/2022 – Market

The average price of gasoline was practically stable at Brazilian stations this week, but for the first time the ANP (National Agency for Petroleum, Gas and Biofuels) price survey detected the product being sold at more than R$8 per litre.

In the national average, gasoline cost R$ 6,658 per liter this week, slightly below the R$ 6,664 verified last week. Stabilization occurs after two increases in response to the 4.85% readjustment promoted by Petrobras on January 11th.

In Angra dos Reis, on the south coast of Rio de Janeiro, the agency found the most expensive gasoline in the country: R$ 8.029 per liter. The value was detected in one of the seven stations surveyed in the municipality. On average, gasoline in the city costs R$ 7,759 per liter.

In the national average, the price of diesel also showed stability, closing the week at R$ 5,586 per liter, against R$ 5,582 verified in the previous week. The product also underwent a readjustment on January 11, 8%.

The most expensive diesel in the country was found in Pindamonhangaba, at R$ 6.905 per liter. This value was verified in only one of the four stations surveyed in the city and is well above the local average of R$ 5.646 per liter.

The agency also did not detect significant changes in the prices of hydrous ethanol, bottled gas and CNG (natural gas for vehicles).

The soaring of fuels has been a matter of concern for President Jair Bolsonaro (PL). In 2021, it helped push official inflation to a high of 10.06%, the highest since 2015. Last week, the president announced a bill to exempt fuel from federal taxes.

The proposal, however, has been dehydrated amid resistance from both outside and within the government. The Minister of Economy, Paulo Guedes, for example, defends that only diesel oil should benefit from a tax cut.

The government was also evaluating the creation of a stabilizing fund to interfere in final fuel prices, but the proposal was discarded. For Guedes, the idea is unfeasible because it would have high cost and little effectiveness.

This Thursday (27), the states confirmed in a meeting at Confaz (National Council for Finance Policy) the extension of the freezing of reference prices for the collection of ICMS on fuel, which began in November.

The measure reduces the pass-through of high prices at refineries, as the tax no longer follows the price of pumps. But the market expects further adjustments from Petrobras, since the gap between international quotations and the values ​​practiced by the state-owned company is large.

Abicom (Brazilian Association of Fuel Importers) calculates that the price of gasoline sold in Brazil is R$ 0.27 per liter below the import parity price, which simulates how much the product brought from abroad would cost in the country. In diesel, the difference reaches R$ 0.39 per liter.

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