After another increase in the prices of gasoline, diesel and LPG, Petrobras speaks out and informs that, in recent months, the international oil market has been facing high volatility, with COVID-19, its impacts and uncertainties, as a backdrop. More recently, geopolitical tensions in Europe added yet another component of volatility, culminating in Russia's invasion of Ukraine on 24 February.
According to Petrobras, at first, despite the surge in international prices, when assessing the market situation and prices in accordance with established governance, it decided not to immediately pass on the volatility, carrying out a daily monitoring of oil prices. Only on March 11, after prices were observed at consistently high levels, the state-owned company implemented adjustments in its sales prices to distributors of gasoline, diesel and LPG.
The amounts applied at that time, although relevant, only reflected part of the rise in international levels of oil prices, which were strongly impacted by the limited supply against the world demand for energy.
This move by the company was in the same direction as other fuel suppliers in Brazil who, before Petrobras, had already promoted adjustments in their sales prices, and necessary for the Brazilian market to continue being supplied, without risk of shortages, by the different actors. responsible for serving the various Brazilian regions: distributors, importers and other producers, in addition to Petrobras.
Petrobras follows all governance rites and seeks a balance with the market, while avoiding passing on to domestic prices the volatilities of international quotations and the exchange rate caused by conjunctural events.
This positioning allowed prices at Petrobras refineries to remain stable for 152 days for LPG and 57 days for gasoline and diesel, even in this context of rising international prices.
In the last few days, we have seen a reduction in the international price levels of derivatives, followed by a strong increase yesterday. THE Petrobras is sensitive to the impacts of prices on society and maintains daily monitoring of the market at this challenging and highly volatile moment, not being able to anticipate decisions on price maintenance or price adjustments.
We continue in an environment of great uncertainty, with an increase in the demand for fuel in the world, at a time when the unfolding of the war between Russia and Ukraine is impacting the supply, generating competition in the world for the supply of products, which reinforces the importance that the prices in Brazil remain in line with the global market to ensure normal supply and mitigate risks of fuel shortages