Gulf Oil and Gas accountACCOUNT

Petrobras Revises the Price of Fuels

Source: www.gulfoilandgas.com 1/5/2017, Location: South America

Share |
According to our pricing policy announced in October 2016 , the Executive Group Markets and Prices (GEMP) decided to raise the price of diesel at the refinery by 6.1% on average. The new values start to apply as of 1/6/2017. The price of gasoline in the refineries remained unchanged.

The decision is mainly explained by the effect of the continued, albeit more discreet, increase in oil prices in international markets, the appreciation of the real since the last price revision and adjustments in our competitiveness in the domestic gasoline and diesel market. The revisions announced today also reflect seasonal movements in global derivatives prices, with diesel prices responding to higher winter demand in the northern hemisphere.

We reaffirm your pricing review policy at least once every 30 days, giving you the flexibility to handle high volatility variables.

As Brazilian law guarantees price freedom in the fuels and derivatives market, the revisions made by us in the refineries may or may not be reflected in the final consumer price. This will depend on onlays made by other members of the fuel chain, especially distributors and resellers. If the adjustment made today is completely passed through and there are no changes in the other parcels that make up the final consumer price, diesel may increase by 3.8% or around R $ 0.12 per liter on average.

Financials and Investment News in Brazil >>

United Kingdom >>  11/20/2017 - i3 Energy has received an indicative proposal and confirmed support from two UK-based lenders for a $25 million senior secured credit facility. ...
Venezuela >>  11/15/2017 - The Bolivarian Republic of Venezuela signed an agreement with the Russian Federation stipulating the terms of the financing renegotiation, in complian...

Austria >>  11/14/2017 - OPEC crude for 2018 was also revised up by 0.4 mb/d from the previous report to stand at 33.4 mb/d, around 0.5 mb/d higher than the 2017 level.

Saudi Arabia >>  11/14/2017 - Last week, the WTI benchmark rose $2 to more than US$57 per barrel ó its highest level since mid-2015. While OPEC and other contributing non-OPEC memb...

Austria >>  11/13/2017 - OPEC crude in 2017 is estimated at 33.0 mb/d, which is 0.7 mb/d higher than the 2016 level. In 2018, demand for OPEC crude is projected at 33.4 mb/d,...
Oman >>  11/13/2017 - Omanís Duqm Refinery and Petrochemical Industries Co will approach banks in about two weeks for the debt financing it needs to back a $6 billion refin...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Brazil Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |

More News

 

Oil & Gas Companies in Brazil >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.