Petrobras confirms adherence to R$1/liter diesel subsidy, but awaits details for operationalization.
Petrobras has officially announced its adherence to an additional R$1 per liter subsidy on diesel, a measure set to be valid for 30 days. Despite the confirmation, the company emphasizes that the implementation of this measure depends on the publication of complementary acts by the Ministry of Finance. The state-owned oil company informed that, even with an internal price adjustment of the fuel by the same amount, the prices passed on to distributors will remain stable during the subsidy’s validity period.
Petrobras‘s decision considers the subsidy compatible with its commercial interests, maintaining flexibility in its market strategy. However, the full operationalization of the benefit is tied to clarity in the rules, which have not yet been detailed in the decree published in the Official Gazette of the Union. This regulatory uncertainty, coupled with a decrease in diesel imports, is already beginning to raise concerns in the supply chain, particularly in the southern regions of the country, which are experiencing a period of high demand.
In a statement, President Lula (PT) highlighted that the government has already allocated R$47 billion in subsidies to mitigate price increases for gasoline and diesel. To facilitate these payments, the Official Gazette of the Union also brought the extension, for 60 days, of extraordinary credits totaling R$3.33 billion and R$3.47 billion, designated for the Ministry of Mines and Energy.
The IBP (Brazilian Petroleum and Gas Institute) reinforced the importance of ensuring the regularity of supply, especially during this peak diesel consumption period. The entity stressed the need to guarantee national supply through imports, considering availability, costs, and the logistics of bringing fuels into the country. The expectation is that the operationalization rules will be defined soon to avoid further market impacts.
