Petrobras announced Wednesday night that it would raise gasoline prices by R$ 0.19, but hours later, early Thursday morning (the 10th), reversed course and canceled the adjustment. According to the state-owned company, instead of an increase, there would be a discount for distributors in the same amount.
The state company's announcement came after the government adopted new measures to prevent the pass-through of rising oil barrel prices. During Wednesday afternoon, the government stated it would stop extending the R$ 0.44 per liter gasoline subsidy, which was set to expire that day, and would instead implement a R$ 0.63 PIS/Cofins tax reduction, federal taxes levied on fuel.
The difference between the two amounts is exactly R$ 0.19, the same value as the adjustment Petrobras had announced. Therefore, there would be no difference for distributors when purchasing fuel from the state company's refineries, since the increase amount would be offset by the new taxation format.
