Petrobras pronounces a R$0.20 discount within the worth of diesel at refineries
The reduction in the price of diesel comes amid the drop in oil prices on the international market, according to Petrobras.
THE Petrobras announced this Thursday, the 4th, 3.6% reduction in the price of diesel in its refineries.
The average sale price at the state-owned refineries will go from R$5.61 to R$5.41 per liter, with a reduction of R$0.20.
The reduction goes into effect from Friday, 5.
In July, Petrobras had already reduced the price of gasoline at refineries twice, but the price of diesel remained unchanged.
The reductions come amid a drop in the price of a barrel of oil on the international market, with fears of a global recession pushing down the price of the commodity.
Petrobras said in a note that the reduction in diesel “follows the evolution of reference prices, which have stabilized at a lower level for diesel”.
Petrobras also informed that the variation “is consistent with Petrobras’ pricing practice, which seeks to balance its prices with the global market, but without passing on to domestic prices the conjunctural volatility of international quotations and the exchange rate.” .
After hitting almost $130 a barrel this year with the war in Ukraine, the Brent barrel had consistent declines in June and July, and was quoted at US$ 94 in the early afternoon of this Thursday.
How much will the price of diesel drop?
At the pump to the final consumer, the average price of a liter of diesel in Brazil was R$ 7.51 in the week ended July 30, according to weekly measurements by the National Petroleum and Biofuels Agency (ANP).
From the refineries to the pump, the final consumer price also includes taxes, costs and profit margins in the distribution chain.
Since 10% of the diesel that arrives at service stations contains biodiesel by law, Petrobras’ share of the final price, which was R$5.05 on average, has now dropped to R$4.87 with the reduction announced today. The variation may imply a reduction of at least R$ 0.18 in the liter that is sold to the consumer.
But the rest of the final price at the pump, in practice, varies more or less in different stations and states.
In addition, Petrobras’ reduction refers only to the price at the state-owned refineries, which account for about 70% of the diesel consumed in Brazil. The rest is sold by importers or privatized refineries.