Tax cut: gasoline price starts to fall in BH and reaches R$ 7.14

Belo Horizonte drivers are already paying cheaper to fill up their vehicles after the federal tax cut that affect fuel prices. On Teresa Cristina Avenue, on the perimeter between the Camargos and Prado neighborhoods, a liter of gasoline reached the price of R$ 7.14 this Monday (27). The value is being practiced by at least six stations on the road.

The figures are also already found in establishments on Avenida Antônio Carlos, in the Pampulha region. The drop in the price of gasoline, according to the supervisor of a station to the report of THE TIMEis a direct effect of cuts in federal taxes on fuel.

According to the administrator, the price should continue to fall in the coming days, given that the transfer with the abatement of federal taxes, which should reach R$ 0.68 only for gasoline, are being made gradually to the gas stations. by the distributors. The Ipiranga chain, for example, has already reduced R$ 0.34 since June 24, while BR reduced R$ 0.41 from the final price, according to the sector representative to the report.

The expectation is that in the coming days new discounts will be made until the value of R$ 0.68 is reached. “The justification is that they are still selling fuel that was bought at the old price”, explained the supervisor. But, despite still far from the desired ideal, drivers are already celebrating the relief in their pockets. Vendor Ricardo Luiz da Silva, 50, supplies daily.

For him, gasoline compensates more for the vehicle’s consumption. Silva reported that monthly fuel expenses have almost doubled this year, reaching R$500. The lower the better”, says the man who was surprised by the new price. “If the trend is to fall more, good for us”, he calculates.

For businessman Rodney Matos, 49, the drop in the cost of gasoline has not yet resulted in a return to consumption. This Monday, he filled up with ethanol, which was also cheaper: R$4.75, compared to R$4.89 last week. “I’m still going to do the calculation, but if I continue to reduce, I’ll start supplying for gasoline, yes”, he projected.

In the case of ethanol, the discount provided with the cut in federal taxes is R$ 0.24, according to the Minas Gerais Petroleum Derivatives Retail Trade Union (Minaspetro). Research released this Monday by the Mercado Mineiro website shows that between June 21 and 25, those who supplied with sugarcane derivatives already paid up to R$ 0.20 less in BH and the metropolitan region.

Why did the price drop?

The drop observed in the price of gasoline and ethanol derives from the sanction of Complementary Law 194/2022. The rule zeroed the rate of Pis Pasep, Cofins and Cide until December 31 for gasoline and ethanol, since federal taxes were already zeroed on diesel. The text also determines the reduction, to 18%, of the ICMS rate in the states.

In Minas, the procedure still needs to be regulated by the government. The Executive informed that it will express its opinion on the matter after a meeting to be held this Tuesday (28) with the Minister of the Federal Supreme Court (STF) Gilmar Mendes and representatives of the Secretaries of Treasury and State Attorneys General.

While the measure is not official, the market calculates a reduction of up to R$ 0.90 with the reduction of the current 31% of ICMS levied on gasoline in Minas to 18%. Added to the discount on federal taxes, the driver can pay around R$ 1.58 less for a liter of regular gasoline to fill up.

Despite the reduction in the final price, the cut in state and federal tax rates are not to blame for the high prices of fuel in Brazil. The high price is related to Petrobras’ policy that sets prices in Brazil, according to the value of a barrel of oil on the international market.

The Import Parity Price (PPI) started to be used, in full, in 2016 in an act of former president Michel Temer (MDB). Since then, the Gasoline doubled in price in Brazil, according to a survey by the Social Observatory of Petroleum. The liter cost R$ 3,662 in October 2016, the month in which the state-owned company adopted the regime.

Result still limited

A survey released this Monday by the Mercado Mineiro website showed that despite the price drop at some stations, the driver still pays dearly to fill up with gasoline in Grande BH. The average price reached R$ 7.56 in the period between June 21 and 25, when the data were collected.

The highest price seen in the study was R$7.89 and the lowest, precisely, R$7.14. In the case of ethanol, the survey showed an average drop of 3.78%, or R$ 0.20. The average fuel calculated by Mercado Mineiro is R$ 4.97. The value is 65% of the price of gasoline, so it pays off for the driver — when the price of alcohol is less than 70% of the price of gasoline, it is generally more viable.

About Abhishek Pratap

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