Possibility of reducing fuel prices; know how

In the midst of the oil crisis, Petrobras announced last Friday, the 11th, a new increase in fuel prices. The company had frozen fuel prices for 57 days, but now it will be passed on to consumers.

The increase in fuel prices generates a lot of concern for the population, as it has an impact on the entire consumer market. When fuel prices rise, inflation tends to rise as well. However, in an attempt to maintain control of the readjustments, the Senate is studying ways to reduce prices.

See more at: A liter of gasoline can reach R$ 10; Understand

The gradual increases

As it is a mixed capital company, even with a profit of billions last year, the government cannot freeze Petrobras fuel prices. Thus, in last Friday's price readjustment, gasoline increased by around 18.8% and diesel, by 24.9%.

In this context, the main cause for these constant increases is the serious oil crisis that has been taking place in the world. Despite Brazil being a self-sufficient country in terms of oil production, the barrel is quoted in dollars. Thus, to follow the world market, it is necessary to increase prices.

The war between Ukraine and Russia also reverberates in Brazil with price increases. As Russia, the world's leading oil producer, suffers from sanctions, it restricts its oil to the world. In this way, the other countries change their value to fit the law of supply and demand.

Senate considers ways to reduce prices

In order to reduce fuel prices and control inflation, the Senate approved Bill (PL) 1,472/2021 on the 10th. The text aims to change the fuel calculation formula and create price stabilization.

The main idea of ​​the project is to promote price dampening in the midst of constant increases in oil barrels. With this, the logic is to delay the fall in prices so that the increases passed on are lighter for the consumer's pocket.

Thus, the reason for carrying out such action was the criticism of Deputy Rogério Carvalho to the way in which fuel prices are calculated in Brazil. Because, since 2016, the prices of barrels of oil are calculated according to the international market, in dollars. In the view of senators, if there is a change in calculation, prices may improve.