The price of gasoline in Brazil is now far below the average of 167 countries

Against all odds, the current price of gasoline leaving Brazilian refineries today is well below the average of 167 countries, according to data released Friday by the Global Petrol Prices portal and the ANP (National Petroleum Agency). The liter of fuel cost 1.11 US dollars. The average in the universe studied was 1.41 US dollars.

Currently, Brazil has the second lowest price for a liter of gasoline among BRIC countries. Russia, a major oil and gas producer, tops the list at $0.85.

The price is US$0.28 more expensive in China than in Brazil at US$1.39. In India, it is US$1.39, and in South Africa, it is US$1.56.

This crucial development in maintaining social peace in the country is thanks to the Brazilian Congress, but even more so to the Bolsonaro government.

Together, they have broken the upward death spiral by courageously lowering the VAT at the state level against the interests of the governors and breaking the outdated leadership of the all-powerful oil company Petrobras by putting its leaders in their place.

Large oil producers like Russia indeed tend to live with low prices. In Saudi Arabia, a liter of gasoline leaves refineries for $0.62.

Venezuela is also a producer country and has virtually free fuel. A liter of gasoline costs US$0.02. However, the exchange rate of 562.686 bolivars per dollar unit must be considered.

DIESEL

The current diesel price shows that this crucial fuel for truckers also needs Bolsonaro’s protective hand.

The average price per liter of fuel in Brazil registered by the ANP on Friday (29) was US$ 1.43. The value is slightly higher than the average of the 167 countries, which is US$ 1.38.

But this will change soon if the president has his way.

The president said it was “almost certain” Brazil could import diesel from its BRICS partner Russia in the first week of July. Bolsonaro said the fuel was expected to arrive in two months and would be “much cheaper” but gave no details on quantities.

With information from Poder360

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error