DIESEL IMPORTS INCREASE IN MARCH WITH STRONG DEMAND FROM AGRICULTURE, SAYS STONEX

Brazil’s diesel imports rose 4.6% in March 2025, reaching 1.31 billion liters due to strong agricultural demand, reduced local refinery output, and Petrobras’ prices above international parity, according to StoneX. Imports in Q1 totaled 3.67 billion liters, up 15.2% year-on-year. Russia remained the main supplier, increasing its share from 45% to 69%. In contrast, gasoline imports fell 58.8% in March due to higher domestic output and slow recovery in light fuel demand. Gasoline production rose 1.7% in early 2025, covering 95% of domestic needs. Accumulated Q1 gasoline imports dropped 28.3% to 641 million liters. With high local production, increased ethanol supply, and upcoming ethanol blend changes, gasoline imports may remain low.
Source: Nova Cana