Image credits: Roque de Sá/Agência Senado

Petrobras announces reduction in the price of gasoline by R$0,15 per liter

Another reduction in fuel is coming. According to an announcement made by Petrobras, starting this Friday (28), the average selling price of gasoline to distributors will increase from R$3,86 to R$3,71 per liter, a reduction of 3,88 %.

The price of the product will be R$0,15 cheaper at the refinery. This is second drop in the price of gasoline announced in less than ten days by the oil company, which this Wednesday (27) released a new guideline for fuel pricing policy (G1).

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In this measure, the state-owned company stated that the Board of Directors will supervise decisions on adjustments. Which, in practice, is already done.

The drop in the price of gasoline follows the price of a barrel of oil on the international market, as Petrobras adopts the Import Price Parity (PPI) policy.

To give you an idea, a barrel of oil is currently traded at around US$106. In March, when the war between Russia and Ukraine had not yet completed a month, the price reached US$140. This had only happened before in the global depression of 2008, caused by the real estate bubble in the USA.

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Furthermore, the value of a barrel is also affected by the dollar exchange rate. “This reduction follows the evolution of reference prices, which have stabilized at a lower level for gasoline, and is consistent with Petrobras’ pricing practice,” said the company, in a note.

The reduction does not affect the sales value of other fuels and is valid for the removal of gasoline from refineries by distributors. The transfer to the final consumer, at gas stations, will depend on the monitoring of price drops by distributors and resellers.

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(Top photo: Flickr/Reproduction)

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