Brazilian oil company Petrobras announced on Thursday the 18.8 percent increase in fuel prices, this being the largest increase in gasoline since January 2021.
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According to the Petrobras statement, the measure was taken as a direct consequence of the impact of Russia’s military operation in eastern Ukraine on the international oil market.
Petrobras indicated that as of this Friday, gasoline will be sold at an average price of 3.86 reais (0.77 dollars), but the final consumer will pay much more, since taxes and profits from gas stations are added to that value, which differ in the different regions of the country.
$PBR ⛽ Petrobras has announced an increase of 18.8% and 24.9% in gasoline and diesel prices, respectively, as a result of the rise in oil prices observed in recent weeks, as reported in a statement .https://t.co/O33j8QzxE6
– Cristian Geo��️ (@ CristianGeo7)
March 11, 2022
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Until Thursday, a liter of gasoline in Brazil cost about 7 reais (1.4 dollars). In the case of diesel, more used by truck drivers, Petrobras reported that the price increase for distributors starting Friday will be 24.9 percent.
According to the Petrobras Social Observatory (OSP), from January 2021 to date, the Brazilian oil company has increased the price of gasoline 13 times and that of diesel 11 times.
During the past year, the average price of gasoline rose 46 percent at gas stations, according to the National Petroleum Agency (ANP).
Faced with the increase in fuel prices, the Brazilian Economy Minister, Paulo Guedes, admitted on Thursday the possibility of applying diesel subsidies in the event that the conflict between Russia and Ukraine continues.
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