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Correio newspaper | Prices at gas stations remain stable in Brazil despite oil volatility

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GASOLINE AND MORE

Prices at gas stations remain stable in Brazil despite oil volatility

Gasoline increased slightly by 0.3% in the week of October 20th to 26th

  • Photo by the author Estadão

Published on October 28, 2024 at 3:00 pm

The price of gasoline in Brazil is lower than in other South American countries, such as Argentina and Uruguay

The price of gasoline in Brazil is lower than in other South American countries, such as Argentina and Uruguay Credit: Disclosure

Amid the ebb and flow of oil prices on the international market, fuels sold at gas stations in Brazil remained practically unchanged last week, following the mantra established by Petrobras of not importing the volatility of the commodity’s price to the domestic market in its refineries.

Gasoline had a slight increase of 0.3% in the week of October 20th to 26th, compared to the previous week, and diesel remained stable, according to a price survey at gas stations by the National Agency for Petroleum, Natural Gas and Biofuels (ANP).

Meanwhile, Brent oil for December closed higher on Friday, after two days of decline, but fell again this Monday. The price of the commodity returned to close to US$71 a barrel, after reaching US$76 last week.

Responsible for 80% of the country’s refining sector, Petrobras has not changed the price of gasoline in refineries for 113 days and diesel for 308 days. The company abandoned the import parity pricing policy (PPI) in May last year, replaced by a strategy that pleased the market and depends on negotiation with customers.

The average price of gasoline closed last week at R$6.11 per liter and diesel at R$6.02 per liter. Liquefied Petroleum Gas (LPG) fell 0.2% from one week to the next, closing last week at R$106.38 for a 13-kilo cylinder.

With the fall in the price of oil – after the confirmation of an attack by Israel on Iran away from assets linked to oil and gas production -, the lag in Brazil’s prices in relation to the international market increased for gasoline, reaching an average of 8%, leaving room for the state-owned company to increase the price at refineries by R$0.23 per liter.

In the case of diesel, the gap in relation to the foreign market was 3% at the close of Friday, the 25th, giving room for an increase of R$ 0.12 per liter, according to data from the Brazilian Association of Fuel Importers (Abicom)

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Michelle Williams

I'm Michelle Williams, an enthusiastic author specializing in captivating entertainment content on Rwcglobally.com. With a passion for storytelling and a keen eye for the latest trends, I aim to engage readers with compelling narratives that reflect the dynamic landscape of the entertainment industry. Join me on Rwcglobally.com to explore the world of film, television, music, and more, as we uncover the stories that define contemporary culture.

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