According to the Brazilian Association of Fuel Importers, the price of gasoline and diesel in Brazil dropped below import parity following price reductions set by Petrobras this week, making imports no longer advantageous. Since mid-April, Petrobras refineries have been negotiating diesel and gasoline prices above import parity, opening a window for imports of foreign fuel. However, as of Wednesday (17), the cost of gasoline and diesel decreased by 12.6% in the state-owned company’s refineries. Petrobras’ diesel prices are now 8% less expensive on the domestic market than in the Gulf of Mexico, and gasoline costs are 4% less expensive.
Sources: Agência Estado/Nova Cana (*Translated by Ia Niani)