{"id":98692,"date":"2026-05-29T12:59:11","date_gmt":"2026-05-29T15:59:11","guid":{"rendered":"https:\/\/murray.adv.br\/?p=98692"},"modified":"2026-05-29T12:59:11","modified_gmt":"2026-05-29T15:59:11","slug":"petrobras-boosts-gasoline-prices-as-subsidy-blunts-consumer-impact","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/petrobras-boosts-gasoline-prices-as-subsidy-blunts-consumer-impact\/","title":{"rendered":"Petrobras boosts gasoline prices as subsidy blunts consumer impact"},"content":{"rendered":"
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Analysts differ on whether government support will hold down pump prices<\/strong><\/em><\/h6>\n<\/div>\n<\/div>\n
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One week after joining the federal government\u2019s latest fuel-subsidy program, Petrobras raised gasoline prices at its refineries on Thursday. The state-run oil company announced a R$0.48-per-liter increase effective Friday, equivalent to 18.68%.<\/p>\n<\/div>\n

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The impact on fuel distributors, however, will be limited to R$0.04 per liter, or 1.56%, because Petrobras agreed to receive a government subsidy of R$0.44 per liter of gasoline. Specialists disagree on how much the measure will ultimately affect consumer prices.<\/p>\n<\/div>\n

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The last time Petrobras raised gasoline prices at its refineries was on July 8, 2024, when it increased them by 7.12%. In January, the company reduced gasoline prices by 5.17%. \u201cThe effect on distributors and final consumers is mitigated by the economic subsidy granted by the government,\u201d Petrobras said in a statement.<\/p>\n<\/div>\n

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Petrobras Chief Executive\u00a0Magda Chambriard<\/strong>\u00a0attended a press conference on Wednesday regarding investments in the northeastern state of Sergipe, but did not comment on the price adjustment.<\/p>\n<\/div>\n

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Petrobras has been selling fuel below international prices, arguing that it does not pass through short-term market volatility such as that caused by the conflict involving the United States, Israel, and Iran.<\/p>\n<\/div>\n

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Even after Thursday\u2019s increase\u2014including the subsidy amount\u2014the company continues to sell gasoline below international parity levels.<\/p>\n<\/div>\n

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According to data from the consultancy StoneX, Petrobras gasoline is 35.2% below international prices, equivalent to roughly a R$ 0.90-per-liter gap. Without the latest adjustment, that gap would have reached R$1.38 per liter.<\/p>\n<\/div>\n

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The subsidy is part of a government package to soften the impact of tensions in the Middle East on fuel prices in Brazil. The measure was established through a provisional presidential decree issued on May 13, capping gasoline and diesel prices sold by refineries and importers at R$0.89 per liter above the subsidized benchmark.<\/p>\n<\/div>\n

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Fuel distributors and retailers are not eligible for the subsidy unless they hold authorization to import refined products directly or through affiliated trading operations. Market specialists remain divided over whether the subsidy will effectively limit pump prices.<\/p>\n<\/div>\n

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David Zylbersztajn<\/strong>, a former director-general of Brazil\u2019s National Petroleum Agency and professor at the Pontifical Catholic University of Rio de Janeiro, said the government\u2019s objective of avoiding larger pass-throughs to consumers is likely to succeed during this first Petrobras adjustment since the conflict escalated.<\/p>\n<\/div>\n

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\u201cIn theory, prices are free, but the impact at the pump should be minimal. There is no reason for the subsidy not to work in cushioning the effect on final prices,\u201d said Zylbersztajn, who also chairs the board of Sindicom, an association representing Brazil\u2019s largest fuel distributors.<\/p>\n<\/div>\n

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In his view, the effect on consumers should be close to the R$0.04-per-liter increase charged by Petrobras to distributors. He noted that the post-subsidy adjustment is very small relative to the retail price of gasoline.<\/p>\n<\/div>\n

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According to a survey by Brazil\u2019s National Petroleum Agency, average gasoline prices at service stations last week stood at R$6.62 per liter. A R$0.04 increase represents slightly more than 0.6% of that average. \u201cPetrobras is selling with a R$0.04 increase. It is negligible,\u201d Zylbersztajn said.<\/p>\n<\/div>\n

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Others in the industry are less convinced.<\/p>\n<\/div>\n

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James Thorp Neto<\/strong>, president of the National Federation of Fuel and Lubricant Commerce, said the market is too dynamic to isolate the subsidy\u2019s effect accurately. As examples, he cited falling prices for ethanol and biodiesel, both of which also influence final fuel prices. \u201cThere are so many factors affecting prices that it becomes difficult to know exactly what causes them to rise or fall,\u201d Thorp said.<\/p>\n<\/div>\n

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Another industry source noted that retail prices ultimately depend on competitive market conditions and distributors\u2019 commercial strategies.\u00a0Bruno Cordeiro<\/strong>, a market-intelligence analyst at StoneX, said imported fuel prices have recently declined because crude oil prices eased amid growing optimism about extended peace negotiations between the United States and Iran.<\/p>\n<\/div>\n

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However, he noted that U.S. gasoline inventories have fallen due to stronger refining margins and the approach of the American summer driving season, which typically boosts fuel consumption. \u201cWe are seeing a gasoline-crude crack spread of about $40 per barrel,\u201d Cordeiro said. \u201cIf there is no agreement between the U.S. and Iran to restore flows through the Strait of Hormuz in the coming days, we could see additional upward pressure.\u201d<\/p>\n

*By\u00a0F\u00e1bio Couto,\u00a0Rafael Rosas\u00a0and\u00a0Alessandra Saraiva\u00a0\u2014 Rio de Janeiro<\/p>\n

Source: Valor International<\/p>\n

https:\/\/valorinternational.globo.com\/<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Analysts differ on whether government support will hold down pump prices     05\/29\/2026 One week after joining the federal government\u2019s latest fuel-subsidy program, Petrobras raised gasoline prices at its refineries on Thursday. The state-run oil company announced a R$0.48-per-liter increase effective Friday, equivalent to 18.68%. The impact on fuel distributors, however, will be limited […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[26946,26947],"class_list":["post-98692","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-petrobras-boosts-gasoline-prices","tag-subsidy-blunts-consumer-impact"],"yoast_head":"\nPetrobras boosts gasoline prices as subsidy blunts consumer impact - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/petrobras-boosts-gasoline-prices-as-subsidy-blunts-consumer-impact\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Petrobras boosts gasoline prices as subsidy blunts consumer impact - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Analysts differ on whether government support will hold down pump prices     05\/29\/2026 One week after joining the federal government\u2019s latest fuel-subsidy program, Petrobras raised gasoline prices at its refineries on Thursday. 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