Rio de Janeiro – This Monday (13), Petrobras has confirmed a reduction of 3% in diesel and gas prices for refineries. The measure will come into force next Tuesday (14). The last readjustment announced by the company for gas took place on December 1st, 2019, and for diesel on December 21.
The measured was expected by the market, National Federation of Fuel and Lubricants Trade (Fecombustíveis) president Paulo Miranda Soares told Agência Brasil.
Soares pointed out that, when the Iran-US tension begun, the oil price in the foreign market moved from USD 64 to USD 70 each barrel. Since the price has returned to the previous level, Soares said that the both fuels’ price tend to decline. “This Petrobras’ attitude is absolutely normal and expected.”
Fecombustíveis president stressed, however, that the price reduction might take a while to reach the consumer, as distributors must manage their supply, which is estimated between 15-20 million liters. “The price will go down only when (the distributors) have sold the supply they bought for a higher price.” This should take 15 days to reach the pump “because competition is fierce in the resale sector,” said Soares.
Translated by Guilherme Miranda
