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Fuels

Petrobras practices prices below international parity, importers say

10/14/2020 | 11h48

The Brazilian Association of Importers of Fuels (Abicom) released a note on Tuesday (13), informing that Petrobras is practicing prices below the international parity for gasoline, even after the most recent readjustments. On Saturday, the state-owned company increased the average price of diesel by 5% and by 4%, that of gasoline.

 

With the readjustments, Petrobras' average price at refineries accumulates a drop of 5.3% for gasoline and 24.3% for diesel in 2020.

 

"In hubs where there is competition in imports, the practice of prices below international parity can be characterized as abuse of market power, which, in the Brazilian context, results in predation by Petrobras of its only competitors, importers ... moment when it is necessary to create a business environment that encourages investments, this practice alienates investors and favors the perpetuation of the monopoly in refining and concentration in the fuel distribution channel ", highlights Abicom, in the note .

 

Petrobras, in turn, clarified that the prices of diesel and gasoline practiced by the oil company follow the dynamics of the commodities markets in an "environment of free competition". The company states that the import parity price is formed by the value of the product in the international market plus import costs, such as ship freight, port fees and other internal transportation costs. Also according to the state company, the readjustments occur without a defined periodicity, according to the market conditions and the analysis of the internal and external environments.

 

"Petrobras reiterates its commitment to the practice of competitive prices and in balance with international markets, which can be proven by the continuity of diesel and gasoline imports by several agents, distributors and trading companies", affirms the state-owned company, in a note.



Font: T&B Petroleum/Boletim SCA
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