RIO DE JANEIRO, BRAZIL – Petrobras announced that as of Monday, August 5th, the price of bottled gas for residential use (LPG) would drop 8.16 percent, to R$24.06 (US$6).
The 13-kilo gas bottle had been sold at R$26.20 since May. The new price is the lowest since November of last year.
According to news from Petrobras, Sindigás, which includes companies in the sector, said the drop in residential LPG would range between 6.5 and 12 percent, depending on the location.
Meanwhile, the state-owned company increased the price of gasoline and diesel last Thursday by approximately four percent.
The company also announced a 13 percent drop in the price of LPG for industrial and residential use. The downturn occurs one week after the state-owned company reduced the cost of LPG for industrial and residential use by 9.8 percent.
According to Sindigás, the drop, which begins to take effect on Monday, could reach 17 percent, depending on the supply hub.
However, despite the drop, Sindigás recalls that Petrobras is offering a 31 percent premium on its prices in relation to the international market price.
According to Sindigás, “this premium has been pushing the costs of businesses with LPG among their main supplies, with a critical impact on companies operating on its intensive use.”