Diesel lag jumps to 27.78% against dollar, despite oil drop

the rise of dollar against the real, the lag in domestic fuel prices has been intensifying at the refineries in Petrobras in relation to the international market, informed this Monday (31), the Brazilian Infrastructure Center (CBIE). According to the daily report, the lag for diesel reached 27.78% and for gasoline, 18.38%.

To align Petrobras’ prices with the international market, the company should readjust its two products by R$1.88 and R$0.74 per liter, respectively.

At a meeting of the state-owned company’s Board of Directors, held last week, it was evaluated that prices are in line with the foreign market.

The difference between Petrobras’ assessment and projections from Cbie and the Fuel Importers Association (Abicom), which also sees a lag in the prices of the two products, was explained by Petrobras by the use of different calculation formulas, but the company did not provide details. .

According to the CBIE, futures contracts for oil and its derivatives were impacted by the return of the restrictive measures of coronavirus (covid-19) in China.

“Contrary to the expectations of investors, that after securing his power, the country’s president, Xi Jinping, would ease the Covid-Zero policy, the Chinese government imposed a series of lockdowns“, he explained in the report.

According to the survey, despite the potential for an economic slowdown and the drop in energy demand impacting the price of oil, prices were also influenced by a positive performance of the dollar index, which had shown a negative trend over the past week.