Petrobras readjusts natural gas by 19% on Sunday

Petrobras readjusts natural gas by 19% on Sunday

As of Sunday (1st), natural gas sold to distributors by Petrobras will be 19% more expensive. The new quarterly adjustment, valid until July 31, was released today (29) by the state-owned company.Petrobras readjusts natural gas by 19% on Sunday

According to Petrobras, the variation in the price of natural gas is based on formulas provided for in public contracts and published on the website of the National Agency for Petroleum, Natural Gas and Biofuels (ANP). The calculation takes into account the variations of oil in the international market and the exchange rate.

“The quarterly update for gas and the annual update for transport attenuates momentary volatilities and ensures predictability and transparency,” the state-owned company explained in a note.

Since 2016, Petrobras has adopted the Import Parity Price Policy (PPI), which links the prices practiced in the country to those practiced in the international market, based on the price of a barrel of Brent oil, which is calculated in dollars.

In recent months, there has been a large increase in its price under the influence of the impacts of the war in Ukraine, among other factors. The barrel rose from US$82 in early January, reached US$130 in March, and has now stabilized near US$105.

For cylinders based on liquefied petroleum gas (LPG), the readjustment does not generate impacts. The measure will mainly affect residents who consume piped natural gas and drivers with cars that use Natural Gas Vehicular (CNG). But the readjustment in the final price passed on to the consumer is still uncertain. Petrobras said that other factors play a role, such as the profit margins of distributors and retail outlets and federal and state taxes.

Industry sectors that use natural gas as an energy source will also be impacted. This occurs, for example, in chemical, metallurgical, pharmaceutical and textile production.

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