In the final days of the Bolsonaro government, prices of petroleum derivatives sold by Petrobras skyrocketed.
According to the Social Observatory of Petroleum, a barrel of basic refined products reached a price of R$ 693, a 263% increase in the last 10 years and 4,1% higher than in the second quarter of this year.
247 - The Social Observatory of Petroleum (OSP) stated that the price of petroleum derivatives, sold by Petrobras in the domestic market, hit a new record. A barrel of basic derivatives (diesel, gasoline, aviation kerosene, LPG) reached R$ 693, an increase of 263% in the last 10 years. The value was 4,1% higher than in the second quarter of this year and 64,2% higher than the price practiced by the state-owned company in the third quarter of last year. The figures were published this Friday (4) by Panel column, in the Folha de S.Paulo newspaper.
The study conducted by OSP showed that the average price of products has been hitting record highs for six consecutive quarters. During the governments of Michel Temer, of the MDB party (2016-2019), and Jair Bolsonaro (2020-present), the prices of Petrobras' petroleum derivatives vary according to the Import Parity Price (PPI), which is the policy of equalization with international market values. If the dollar rises, the price of products will rise in Brazil.
According to Eric Gil Dantas, an economist at OSP and the Brazilian Institute of Political and Social Studies (Ibeps), the sale of refined products in the Brazilian market accounts for 65% of Petrobras' net revenue. "It represents the main explanation for the company's record profits in recent quarters," he stated.
"It's important to point out that the third quarter we're referring to begins in the post-tax exemption period. The 4,1% increase in those months shows that the problem of high prices for petroleum derivatives persisted, even if the final consumer perceives prices as lower due to the tax cut," he added.
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