Lower biodiesel costs in Brazil are helping to hold down diesel prices at gas stations in Brazil, which were already under pressure from imports of less expensive gasoline, particularly from Russia. Brazilian soy producers expect low costs for the primary raw material for biofuels, which will affect the cost of biodiesel. Experts claim that several producers are competing for the same market, occasionally reducing revenues. Diesel S-10, the most widely used fuel in Brazil, continued to decline this week, with gas station prices average BRL 6,232 per liter. Compared to the average, diesel prices fell by 2% in March, but by roughly 10% annually.
Sources: Reuters/Noticias Agricolas (*Translated by Ia Niani)