In Brazil, gasoline and ethanol prices have recently fallen, but diesel prices have reached a seven-month high.
The National Agency for Petroleum (ANP) released this data on Friday, September 15.
Between September 10 and 15, gasoline and ethanol sold for R$ 5.84 ($1.20) and R$ 3.64 ($0.75), respectively.
Both fuels experienced a R$ 0.02 ($0.004) drop from the prior week. Diesel sold at R$ 6.10 ($1.26), which is R$ 0.05 ($0.01) higher than the first week of September.
Industry experts forecast that fuel costs will rise for the remainder of 2023 due to decreased oil production in Saudi Arabia and Russia.
Goias offered the lowest fuel prices: gasoline at R$ 5.61 ($1.16) and ethanol at R$ 4.42 ($0.91).
The most expensive gasoline was in Acre at R$ 6.76 ($1.39), and the highest average ethanol price was in Rondonia at R$ 4.96 ($1.02).
The cost of diesel fluctuated by up to R$ 1.55 ($0.32) between the highest and lowest prices.
In Acre, it sold for R$ 7.40 ($1.52), while in Maranhao it was R$ 5.85 ($1.21). The last time diesel was this costly was on February 11.
Fuel Prices in Brazil Background
Fuel prices have always been a hot topic in Brazil, affecting both consumers and industries.
Over the years, fluctuating global oil prices have heavily influenced local rates.
The government previously controlled fuel prices to curb inflation, but now they’re largely market-driven. However, sudden spikes in prices often lead to public outcry.
Brazil is a significant oil producer, ranking as the largest in South America. Despite this, the country imports refined fuel, affecting the end price for consumers.
Many are pushing for more local refining capacity to reduce import dependency. Currently, Petrobras, the state-owned company, dominates the refining sector.
Exchange rates also play a role in pricing. When the Brazilian Real weakens, fuel becomes more costly.
This especially affects those living in remote regions, where transportation charges add to the fuel’s cost.
In these areas, ethanol, often cheaper, becomes a popular alternative.
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