Privatized refinery raises gasoline and diesel prices more than Petrobras.
Acelen, which has managed Rlam since December, adjusted its gasoline price by 7,40%, while the state-owned company raised its price by 1,85%.
Vinicius Konchinski, Brazil of Fact - The price of gasoline and diesel produced at the former Landulpho Alves Refinery (Rlam), in São Francisco do Conde (BA), has risen more than those sold by Petrobras since the state-owned company transferred the administration of the fuel production plant to a private company, Acelen, on December 1st of last year.
Since then, the price of type A gasoline produced at Rlam, now called the Mataripe Refinery, has risen 7,40%. During the same period, the same gasoline sold to distributors by Petrobras has risen 1,85%.
Meanwhile, the price of S10 diesel, which is less polluting, rose 11,72% at Acelen service stations in less than two months. S500 diesel increased by 9,72%.
In turn, Petrobras adjusted the prices of both fuels by 7,93% and 8%, respectively, during the same period.
The last time Petrobras adjusted fuel prices sold to distributors, on the 12th of this month, it announced that it would sell gasoline at an average of R$ 3,24 per liter and diesel at an average of R$ 3,61 per liter.
Acelen, the company that took over Rlam, sells a liter of gasoline for R$ 3,42 and a liter of diesel for R$ 3,62, on average.
Fuel prices can vary due to regional production factors. However, according to Acelen itself, the percentage adjustments applied to these prices are linked to the price of oil on the international market and the exchange rate.
These two factors also influence the price adjustments applied by Petrobras, according to its international price parity policy. Even so, the increases in fuels sold by the state-owned company were smaller.
“What we are witnessing are the consequences of privatization,” analyzed Deyvid Bacelar, general coordinator of the United Front of Oil Workers (FUP) and director of the Oil Workers Union of Bahia (Sindipetro-BA).
"Due to the private regional monopoly [created with the sale of Rlam], Acelen is promoting the third fuel price increase in the Bahia and Northeast markets, in contrast to the two adjustments made by Petrobras," he added.
According to Bacelar, the only reason Acelen raises its prices more than Petrobras is the pursuit of higher profits.
“We are dealing with an investment fund from the United Arab Emirates, which manages resources from the Abu Dhabi sovereign wealth fund. Therefore, the return has to be financial and immediate, whatever the cost. If this means higher prices for the people of Bahia and the Northeast, that doesn't matter,” he criticized.
Acelen was questioned by Brasil de Fato about the difference in the price adjustments applied by the company and by Petrobras, but did not comment on the matter. In a statement, the company declared that its “pricing policy is independent, preserves competitiveness and is supported by technical and transparent criteria”.
Price increases for consumers
The price of fuel sales from refineries to distributors directly impacts the value of gasoline or diesel sold at gas stations to consumers. On the 12th, when Petrobras increased the price of gasoline by R$ 0,15 per liter, reaching an average of R$ 3,24, the company estimated that this would increase the price of fuel at the pumps by approximately R$ 0,11.
The increase at Petrobras refineries would be greater than at gas stations, since the gasoline sold by the state-owned company is mixed with a certain amount of ethanol before being sold at the pumps. State and federal taxes, in addition to the cost of resale to the consumer, are also levied on the price of fuel sold by the state-owned company.
According to the National Petroleum Agency (ANP), in the week between January 9th and 15th, the same week in which Petrobras announced the fuel price adjustment, the price of a liter of gasoline at gas stations averaged R$ 6,608 nationwide. The following week, between January 16th and 22nd, that same liter of gasoline cost an average of R$ 6,664, representing an increase of 0,84%.
Since the beginning of December, Petrobras has already adjusted the price of gasoline sold to distributors twice. The first time, on the 15th of that month, the company reduced the price of the fuel. Then, on January 12th, it increased it.
Acelen, on the other hand, changed its gasoline price list four times in less than two months. On December 18th, it reduced its prices. Then, on January 1st, 15th, and 22nd, it increased them.
Contested privatization
Acelen is a company created by the Mubadala Capital fund, from the United Arab Emirates, which bought the former Rlam from Petrobras in March 2021.
The sale was made for US$1,65 billion, approximately R$8,25 billion at the time. However, according to assessments by the Zé Eduardo Dutra Institute for Strategic Studies of Oil, Natural Gas and Biofuels (Ineep), the refinery was worth at least twice that amount.
The institution developed three scenarios to establish the market value of Rlam. In all three situations, the sale should have been made for $3,12 billion, $3,52 billion, or $3,92 billion.
A complaint regarding the sale was filed by the Unified Federation of Oil Workers (FUP) with the Federal Court of Accounts (TCU). The agency found no irregularities in the transaction.
The former Rlam is the first national refinery. It was created in 1950, even before the founding of Petrobras in 1953.
The plant is capable of producing more than 30 different products, including gasoline, diesel, lubricants, and aviation kerosene. It is also a national producer of a paraffin used in the chocolate and chewing gum industry.
More privatizations
The sale of Rlam is part of Petrobras' divestment program. Of the 13 refineries the state-owned company owned, eight were put up for sale under this program. Rlam was the first whose management has already been transferred from the state-owned company to the private sector.
Officially, the federal government's intention is to sell Petrobras' refineries to other companies so that they can compete with the state-owned company. According to the government, this is expected to reduce fuel prices in Brazil.
According to Bacelar, from FUP, the Rlam case demonstrates that this type of privatization policy does not reduce prices.
"The big fallacy was: 'Let's sell half of Petrobras' refining capacity in Brazil so we can increase the number of players, have established competition, and reduce fuel prices.' Now, in Bahia, we have a refinery that was sold where prices haven't gone down. Quite the opposite. They are higher than the prices charged by Petrobras."
Petrobras was contacted for comment on its fuel pricing policy, but did not respond to the report.
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