February 28, 2024

7 states recorded a gas worth enhance of greater than 15%; SP recorded the biggest decline within the worth of ethanol (-5.8%), even with the rise in ICMS charges set by Tarcísio

The value of gasoline in Brazil has change into 11.8% costlier because the starting of the President’s authorities Luiz Inacio Lula da Silva (PT). Gas has change into costlier in all states, with 7 recording a rise of greater than 15% in comparison with the final week of December 2022.

Amazonas was the state the place gasoline grew to become costlier. Based on information from ANP (Brazil’s Nationwide Company for Petroleum, Pure Gasoline and Biofuels), the gas is promoting at R$6.30, 25.7% greater than that offered on the finish of final yr (R$5.33). Piauí was the nation with the bottom change (3.1%).

tax return

The value enhance is because of the resumption of tax assortment. On March 1st, partial Pis/Cofins and Cide have been once more charged for gas throughout the nation. On the time, the rise was R$0.47 per liter of petrol.

On June 1, there was a change to the single-phase ICMS assortment, which is a single price that’s now being charged by all states. The tariff of R$1.22 was greater than the tariff imposed in 20 states.

On June 29, the federal authorities resumed charging the complete worth of Pis/Cofins. The value of petrol elevated by R$0.27 per liter, because of the new PIS/Cofins price and one other R$0.07 and due to Cide, with a complete impression of R$0.34 per liter.

Petrobras items don’t maintain

Due to the tax return, Petrobras has introduced gas worth reductions which might be handed on to distributors. To date, the oil firm has made 4 cuts, 3 of which occurred shortly after the tax return, particularly to mitigate taxes.

Gasoline outperforms diesel

The common worth of petrol in Brazil grew to become costlier than the typical worth of diesel through the first six months of Lula’s authorities.

Based on the Nationwide Company of Ports, the principle gas for vehicles sells for R$5.63 at fuel stations within the nation, an quantity that’s 12.4% greater than the worth of diesel for vans (R$5.01).

Gasoline was buying and selling at a 33% cheaper price than diesel on the finish of 2022. Whereas the worth of petrol elevated by 13.5%, diesel had the alternative impact and its worth fell by 21.5%.

The ethanol additionally rises

In the identical interval, the worth of ethanol in Brazil has change into costlier in 21 states. Of this complete, 7 recorded a rise of greater than 10% in comparison with the final week of December 2022.

Sergipe and Amazonas had the very best gas worth indices within the interval, with 20.1% and 19% respectively. The rise within the worth of gasoline additionally had an impression on the worth of gasoline, as a result of the gas is blended with ethanol earlier than going to the fuel stations. The blending ratio is 27% ethanol.

Then again, 7 states have lowered the worth of ethanol. São Paulo recorded the biggest decline, at 5.8%. The gas was buying and selling at R$3.78 on the finish of final yr and is presently promoting at 3.71%.

The value within the nation’s most populous state has remained decrease than it was till final yr, even with the rise in ICMS assortment on ethanol introduced by Governor Tarcísio de Freitas (Republican). On June 30, Tarcísio determined to extend the gas tax price from 9.57% to 12%.