Petropolis targets R$1 per liter diesel hike
Petrobras plans a $0.23 increase in domestic diesel prices but awaits federal measures to ensure consumer impact is minimized.
Sources indicate that Petrobras seeks to raise the price of diesel sold at refineries by approximately R$1 per liter, equivalent to about 4% or US $0.25 depending on current exchange rates. Two sources with knowledge of the discussions told Reuters this adjustment aims to reduce the significant gap between domestic prices and international market benchmarks. This price disparity widened recently due to rises in global oil and derivative costs.
A temporary subsidy for diesel, set at R$1 per liter, was announced by a provisional measure enacted on Thursday. Finance Ministry Minister Bruno Moretti stated that this value would be added to the existing benefit of R$1.12 per liter. Under the current payment system, producers and importers must issue price discounts on sales invoices and register reductions in official tax documents before being reimbursed by ANP.
However, uncertainty remains regarding the final format of the measure and its duration. One source noted that with an additional real in subsidies, the large domestic-foreign price gap will almost disappear. Another source suggested that if oil and diesel continue to rise, the government may need new solutions.
