Brazil: Average gasoline price hits record high, liter costs US$1.43

RIO DE JANEIRO, BRAZIL – The price of gasoline rose for the 4th consecutive week at the pumps, according to data from Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP) released on May 6. The average price from May 1 to 6 is the highest in the ANP’s historical series: R$7.295 (US$1.43) per liter.

The highest price was recorded in Santa Catarina, where a liter of gasoline was sold for R$8.999 (US$1.77) at the pumps. On the other hand, the cheapest is sold in São Paulo, for R$6.199 per liter.

The previous record for gasoline was set during the week of April 24-30, when it was sold for R$7.283 on the national average. The increase was 0.16% for the week.

S10 diesel costs R$6.63, with a maximum of R$8.387 registered in Bahia and a minimum of R$5.499 in Mato Grosso. Compared to the week of April 24 to 30, it increased by 0.30%.

According to the ANP, hydrous ethanol cost R$5.441 per liter this week. The fuel has one of the biggest variations among the products researched by the agency: in São Paulo, it is sold for R$4.20; while in Rio Grande do Sul, R$7.899.

Although Petrobras’ last readjustment at the refineries was in March, the fuels continue to increase at the pumps. According to the Brazilian Association of Fuel Importers (Abicom), the prices charged in the domestic market are 17% out of phase for gasoline and 21% for diesel oil.

About the possibility of readjustments, the director of marketing and logistics of Petrobras, Claudio Mastella, said that the state company is waiting for a “stabilization” of the gap to pass on the increase.

In the weekly live, President Jair Bolsonaro (PL) called Petrobras’ R$44.6 billion net profit “rape” and asked the state-run company not to increase fuel prices at refineries.

Questioned about the statements on Friday, May 6, the president of Petrobras, José Mauro Coelho, said that he does not pass the instability in fuel prices on to the population, seeking to space the increases. However, he said that “readjustments must be made in certain moments.”

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