Trying to combat this rise in gasoline prices, in addition to taking advantage of the impact that the possible results may have in the middle of an election year, the Federal Senate approved this week the bill that aims to set a ceiling on the Tax on the Circulation of Goods. and Services (ICMS).
See also: Without taxes: see what would be the price of gasoline and diesel
And but more than doing that, the government really wants zero federal and state taxes on gasoline and diesel. Of course, the intention is for this to happen before the elections. If this really comes to fruition, gasoline could drop by around R$2.44 while diesel could drop by R$0.82.
With this happening, the government would like this drop to be felt directly in people’s pockets instead of it just turning out to be a profit margin for distributors.
Those who are filling up their car today can already notice that the average price of a liter is R$ 7.21, but this number can vary even more. That depends a lot on your state. With reduced taxes, the value would drop to R$ 4.77. Diesel, which is at R$7.01, would probably drop to R$6.19.
Thus, if we put it at the tip of the pencil, the reduction would be 33.8% for gasoline and 11.7% for diesel. However, it is useless to get too excited about it, since these measures are provisional and will only be in effect until the end of the year. Well, as we mentioned before… we are in an election year.
It is also worth mentioning that, as soon as the year comes to an end, Petrobras will make new adjustments. They could end up taking away whatever benefit the tax withdrawal might bring.
And it is very likely that prices will rise again, yes, especially considering that the state-owned company is currently lagging 17% with the price of oil and 18% with the dollar. So anyone who can fill the tank when taxes drop to zero should really enjoy it.
Petrobras itself has already stated that it is responsible for 38.9% of the current price of a liter of gasoline and 63.2% of the price of diesel. The rest of the amounts come directly from taxes. This, of course, does not include the costs associated with biodiesel, anhydrous ethanol and also with distribution and resale.
It is important to remember that the price of taxes such as ICMS can vary from one state to another. Rio de Janeiro has an ICMS that is considered high, as it is at 34%, while Maranhão shows a lower ICMS, at 29%. Minas is in the middle with about 31%.