Despite earlier forecasts, global oil prices have resumed a downward trend, further improving the economic advantage for importing diesel and gasoline into Brazil, reports the Brazilian Association of Fuel Importers (Abicom). Gasoline prices, last adjusted by Petrobras in October, have created a favorable import window for 49 days. Diesel, which hasn’t seen a price revision from the state-owned company in 246 days, remains particularly attractive for importers. Abicom notes that a recent drop in the exchange rate, combined with lower international fuel benchmarks, has kept average domestic prices above import parity, by 5% for diesel and 12% for gasoline.
Sources: Times Brasil/União Nacional da Bioenergia (*Translated by Ia Niani)