Petrobras says it has received R$12.2 billion from Brazil’s diesel, gasoline and LPG subsidy programs. Its board approved a new R$1-per-liter subsidy for road-use diesel A for 30 days, but participation depends on publication and review of implementing rules.
The new benefit is cumulative with an existing R$1.12-per-liter subsidy, potentially bringing combined support to R$2.12 per liter while both apply. The scheme may be extended for another 30 days. Petrobras said on Sept. 25 it received a further R$2.3 billion for diesel sold July 16–31.
Reuters reported on Sept. 16 that the gap between international prices and Petrobras’ domestic diesel price had reached a record. Abicom put Petrobras’ price R$3.89 per liter below import prices. Brazil imports roughly a quarter of its diesel, and Reuters said independent importers were delaying purchases; selling fuel bought at higher international prices can squeeze Petrobras’ profitability.
