Petrobras announces gas price reduction

The Brazilian company reached an agreement with distributors to reduce the cubic price of natural gas by 8.1 %

Petrobas announced this Monday an agreement with distributors to reduce the price of a cubic meter of natural gas by 8.1 % as of next May compared to the average value of the quarter between February and April.

The Brazilian oil company made this decision based on the variation in the price of the molecule and its transportation through pipelines. In turn, fluctuations in the Brent barrel and in the exchange rate are factors to be taken into account by both Petrobras and the distribution companies when updating the price of natural gas on a quarterly basis.

During the last quarter, oil fell in the order of 8.7 % and the exchange rate appreciated around 1.1 %. With this update, the price of natural gas sold by Petrobras to distributors will accumulate a reduction of approximately 19 % in the year.

However, this reduction will not be transferred directly to the final price paid by the consumer for natural gas, but this depends, in addition to the sale price set by the company, the supply portfolio of each distributor, their sales margins and the various federal and state taxes.

“The company points out that the update announced for the beginning of May does not refer to the price of liquefied cooking gas, bottled or sold in bulk”, Petrobras explained.

K. Tovar

Source: Notiamerica

(Reference image source: file)

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