The price of gasoline at service stations in Brazil increased by 5.30% last week compared to the previous period, reflecting the increase in federal taxes, according to a survey by ValeCard based on transactions carried out in more than 25 thousand establishments accredited in the country.
The average price of gasoline in Brazil was BRL 5.579 per liter, an increase of BRL 0.281 per liter, according to a survey by the company specializing in fleet management solutions.
The PIS/Cofins charge on gasoline has been partly resumed since March 1, representing an additional 0.47 reais per liter that should be in effect for four months – in 2022, before the exemption, the charge was 69 cents per liter
The survey indicates that the high tax was partially offset by a reduction in the price of Petrobras gasoline at refineries, of 0.13 reais per liter.
“As expected, the gas stations passed on the increase in the price of gasoline… which in turn occurred because of the resumption of the collection of federal taxes on fuels in early March”, says Brendon Rodrigues, Head of innovation and portfolio at ValeCard.
The average price of hydrous ethanol in the country was R$ 3.994 per liter, up 2.65% compared to the previous week.
“The increase in hydrated ethanol at pumps reflects, in addition to the partial return of federal taxes, the higher price charged by producing plants last week,” said Rodrigues, citing research by the Center for Advanced Studies in Applied Economics (Cepea), which pointed to an increase from R$ 2.7126 to R$ 2.7548 per liter in São Paulo mills.
The value of ethanol at the pump was impacted to a lesser extent by the return of taxation, since the government maintained the tax differential for renewable fuel, returning to charging only 0.02 reais per liter – it was 24 cents per liter before the implemented exemption in 2022.
The reencumbrance carried out by the new government occurred after the previous administration had exempted taxes to deal with the increase in fuel prices.
Diesel
The average price per liter of S-10 diesel oil, the most used in Brazil, increased by 0.37% between February 27 and March 5, 2023, compared to the previous week.
During the period, the average charged at gas stations was R$ 6.267 per liter.
Source: CNN Brasil
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