Subsidy program ends and Petrobras up 2.5% on diesel prices for refineries | Economy



[ad_1]

Petrobras announced Monday that it would increase the average price of diesel sold in refineries by 2.5% compared to January 1 due to the end of the subsidy program. With the announced increase, the value of the liter rose from R $ 1,8088 to R $ 1,8545.

The government introduced this diesel subsidy program in the middle of this year to meet truckers' demand for historic shutdowns in May due to rising fuel prices.

In a statement released on Monday, the state-owned company announced that the new price of diesel was 11.75% lower than that of May 31, 2018, or R $ 2.1016 per liter, last average value before the beginning of the year. government program.

The company also pointed out that a new price was 8.7% lower than the first amount set by the subsidy, which amounted to R $ 2.0316 on June 1, 2018.

"With the adjustment announced today, there is a 2.1% drop in 12 months of the average price of diesel sold by Petrobras," the company said.

On Friday, the Petrobras Board of Directors approved a financial mechanism that will allow the company to maintain the value of stable diesel in refineries

for a period of up to seven days in a period of high volatility.

The value of diesel in refineries takes into account, among other things, international exchange and fuel rates. "This price is about half the value of the diesel sold in the stations, because in the final price, consumption taxes are added, the cost of biodiesel and margins of distributors and resellers," said the company.

  Truckers closed the Regis Bittencourt highway in the metropolitan area of ​​São Paulo - Photo: Getty Images <img clbad = "image content-media__image" itemprop = "contentUrl" alt = "Truckers closed the Highway Regis Bittencourt, metropolitan area of ​​São Paulo – Photo: Getty Images "Truck drivers have closed the highway Regis Bittencourt, in the metropolitan area of ​​São Paulo – Photo: Getty Images" data-src = "https : //s2.glbimg.com/_cWpnDi5aMTD2PPfPQxhNLqRans=/0x0: 624×351 / 984×0 / smart / filters: strip_icc () / i.s3.glbimg.fr The truck drivers have closed the highway Regis Bittencourt, in the metro The diesel subsidy program was put in place in June after the government reached an agreement with truck drivers to end the protests that paralyzed the country.

The sale price to Petrobras and other agents participating in the program, including some importers, was frozen this month at R $ 2.0316 per liter.

Companies like Petrobras who adhered to the plan had to apply the prices stipulated by the government and be reimbursed up to 30 cents per liter, according to the scenario of external prices.

Since then, prices have been updated five times: at the end of August, the rise reached 14.4%; in September, 2.76%. In October, reference prices were reduced to 10.44%.

In November, it was determined a reduction of up to 15.59%, valid until December 15th. In the last update, in force since the 16th day, a drop of 2.42% was determined

According to initial forecasts, the government would spend 9.58 billion rubles by the end of the year. Year with the diesel subsidy.

[ad_2]
Source link