The average price of liquefied petroleum gas (LPG), practiced by Petrobras with distributors, will be reduced as of tomorrow (13). According to the state-owned company, the value per kilo (kg) goes from R$ 4.23 to R$ 4.03. The adjustment represents a drop of 4.7%.
It is the second consecutive reduction in the price of LPG, also known as cooking gas. In April of this year, there was a drop of R$ 0.25 in the value of the kg. Before, however, prices maintained an upward trajectory. In July last year, there was an increase of 6%; in October of 7.2% and in March of this year of 16.1%.
According to Petrobras, the average price of 13 kg, corresponding to the capacity of the cylinder for domestic use, will be reduced by R$ 2.60, to R$ 52.34. However, it is not possible to specify the final amount that will be charged to the consumer, since other factors influence such as taxes levied on LPG and the profit margins of distributors.
In addition to the reduction in LPG, Petrobras announced in recent weeks drops in gasoline, diesel, aviation kerosene and aviation gasoline. The readjustments reflect the variations in the international market, according to the Import Parity Price Policy (PPI) adopted by the state-owned company since 2016. Last week, the price of a barrel of oil type brentused as a benchmark, dropped below $90 for the first time since February.
In the first half of the year, however, the international scenario was different. Based on the PPI, fuels rose sharply, which led to demonstrations of dissatisfaction of the President of the Republic, Jair Bolsonaro. In May, he changed the command of the state for the fourth time during his tenure. Caio Mário Paes de Andrade took over from José Mauro Ferreira Coelho.
In a note, Petrobras informs that the reduction follows the evolution of reference prices and is consistent with its practice. The state-owned company maintains that it seeks balance with the market, without passing on the cyclical volatility of quotations and the exchange rate. “In order to contribute to price transparency and better understanding by society, Petrobras publishes information on its website regarding the formation and composition of consumer fuel prices”, the text adds.
Consumer
According to the latest survey released by Petrobras, carried out between August 28 and September 3, the 13 kg gas cylinder was costing consumers an average of R$ 111.57. The state-owned company calculates to be responsible for only 49.2% of this amount. Currently, the Tax on the Circulation of Goods and Products (ICMS), a state tax, accounts for 10.6%. The rest of the price is the responsibility of the distributors, which takes into account logistical expenses and profit margins.
This price composition takes into account the suspension of federal taxes on LPG for domestic use. A provisional measure that opens up this possibility was signed in March of last year by President Jair Bolsonaro, and was later approved by the Federal Congress. The rates of the Social Integration (PIS) and Public Servant Asset Formation (Pasep) and Contribution for Social Security Financing (Cofins) programs were zeroed.
With no significant changes in Petrobras’ pricing policy, the exemption has been the path adopted by the federal government to lower prices not only for LPG, but also for gasoline, ethanol, diesel and Natural Vehicular Gas (CNG). Another law proposed by the federal government came into force at the end of June limiting the ICMS tax rates levied on items considered essential.
The drop in state revenue should be compensated for by reducing the public debt they owe to the Union. The measure, however, raised questions from the states and also from municipalities, which receive a portion of ICMS. In the calculation of the National Confederation of Municipalities (CNM), the loss of the municipalities alone is almost R$ 20 billion. In addition, disagreements about the deadline for carrying out this compensation have been dealt with in court.
