Petrobras Cuts Refinery Gasoline Price 4.9% to R$2.71/L, Diesel Unchanged

Overview

• The 4.9% reduction lowers the refinery price of gasoline A by R$0.14 to R$2.71 per liter effective October 21, marking the second gasoline cut of 2025.
• Market data indicate the move brings Petrobras’ gasoline closer to import parity after roughly a month selling about 7% to 10% above international levels.
• Diesel prices to distributors remain unchanged for now, with Petrobras noting three diesel reductions since March and a real decline of 35.9% versus late 2022.
• Pass-through to pump prices is expected to be partial and uneven because final prices reflect ethanol blending, taxes, logistics and retail margins; in the Federal District, stations expect up to R$0.10 per liter once inventories turn over.
• Analysts report the adjustment eases inflation projections and improves the chance of ending 2025 within the target band, given gasoline’s significant weight in the IPCA.