RIO DE JANEIRO, Brazil (Reuters) – Brazil's average gasoline prices fell 1.08 percent this week to 4,658 reais per liter, data released on Friday by the National Petroleum, Natural Gas and Biofuels (ANP) Agency.
The decline came after Petrobras made a large cut in gasoline prices at refineries in recent weeks. In November alone, the accumulated decline in gasoline announced by Petrobras had reached 10.14 percent.
On Friday, the company announced further prices retreating at its refinery, to the lowest level since early April.
The transfer of Petrobras's readjustment to fuel for consumers depends on distributors, retailers, taxes, and mixing biofuels in the final products sold at the station, among other issues.
Hydrated ethanol, a competitor of gasoline at the pump, averaged 2,951 reais per liter this week, down 0.8 percent from the previous week, ANP data showed.
The average price of diesel fuel, the most consumed fuel in Brazil, reached 3,685 reais per liter, down 0.91 percent compared to the previous period.
The reduction in diesel fuel was also small compared to the cut made by Petrobras at its refinery by 10.1 percent in the average price of diesel fuel, for the period between October 30 and November 28, compared to the previous month, due to monthly adjustments to the fuel subsidy program.
With this program, launched in June, in response to the truck driver's historic strike, oil companies must practice diesel prices within the maximum limit set by the government, with federal compensation up to 30 cents per liter. Reference prices are adjusted every month.
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(By Marta Nogueira)
Thomson Reuters 2018 Copyright