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The Brazilian Association of Fuel Importers (Abicom) released a projection indicating that gasoline and ethanol prices are expected to rise again. According to the Association, the main reason is related to a tax issue.
In this case, Abicom points out that the return of the full PIS/Cofins charge is one of the reasons behind the projected increase. It is worth noting that this tax has not applied to this type of product since last year, due to a Provisional Measure.
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However, in March of this year, the President of the Republic, Luiz Inácio Lula da Silva (PT), announced the return of the PIS/Cofins charge on the value of fuels, such as gasoline. Thus, it is useful to understand the context.
Reasons for the increase in gasoline prices
According to the PM that allowed the PIS/Cofins charge to be waived, this policy ends this Thursday, June 29, 2023. Therefore, the trend is for federal taxes to increase the cost of gasoline and other fuels.
However, it is worth noting that gas stations have the autonomy to increase the price charged for fuel. In other words, they may pass this increase on to consumers at first, or they may delay it. Even so, the expectation is that they will do so soon.
In fact, Abicom released its expectations regarding fuel price changes following the tax change. According to the Association, gasoline is expected to increase by R$ 0.34 per liter, while ethanol is expected to rise by R$ 0.22.
Prices in June
Although the cost of gasoline is expected to increase starting this Thursday, fuel prices are lower than at other times. It is no coincidence that IBGE reported that the cost of these products fell by 3.4% throughout June.
Finally, it is worth noting that one of the reasons for this is Petrobras's pricing policy, under which refinery prices are currently 5% below those practiced on the international market. Therefore, this type of policy makes it possible for the prices of gasoline, ethanol, and other fuels to fall.
