✓ verbatim from the press
Petrobras reduced the price of diesel A sold to distributors by 9.59% starting Monday (1st), from R$ 3.65 to R$ 3.30 per liter, after the federal government announced a subsidy of R$ 1.12 per liter valid from June through December 2026. The measure occurs alongside the resumption of PIS and Cofins taxes on the fuel, which had been zeroed. ✓
Press quotes (1)
"A Petrobras aplicará uma redução de 9,59% no litro do diesel A para as distribuidoras a partir desta segunda-feira, 1º, o que levará o litro do combustível para R$ 3,30 ante os atuais R$ 3,65."
The R$ 1.12 per liter subsidy is valid from June through December 2026, according to a provisional measure published in an extraordinary edition of the Official Gazette. The subsidy replaces two other measures that would expire on Sunday (May 31) and is part of an effort to contain rising fuel prices amid the ongoing war between the United States and Israel against Iran. ✓
Press quotes (1)
"A medida provisória autoriza a concessão do benefício a partir de 1º de junho e estabelece vigência até 31 de dezembro de 2026. O governo federal criou um subsídio de R$ 1,12 por litro de diesel, válido de junho até dezembro de 2026."
According to Petrobras, the new value of R$ 3.30 per liter of diesel is 37.4% lower than the price practiced on December 31, 2022, considering inflation in the period. The oil company had raised diesel prices by 11.6% in mid-March, a move that reduced the gap relative to the international market after oil prices surged due to the closure of the Strait of Hormuz. ✓
Press quotes (1)
"Segundo a Petrobras, o novo valor de R$ 3,30 para o litro do diesel é 37,4% menordo que o preço praticado em 31 de dezembro de 2022, considerando a inflação no período."
The strategy was classified as financial engineering to shield the market from abrupt fluctuations, with a global cost estimated at around 30 billion reais for public coffers. The amount encompasses not only diesel but also containment measures applied to gasoline and aviation kerosene, with monitoring by the Ministry of Finance and ANP over transfers in the national distribution chain. ✓
Press quotes (1)
"A estratégia foi classificada como uma engenharia contábil desenhada para blindar o mercado de oscilações bruscas e manter os esforços governamentais direcionados a segurar reajustes mais expressivos nos combustíveis."
All sources confirm that Petrobras reduced diesel price from R$ 3.65 to R$ 3.30 per liter (9.59% reduction)
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (1)
The global cost of fuel measures was estimated at 30 billion reais
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How does the 9.59% reduction at refineries translate to final diesel prices at gas stations?
Why it's still unknown: Sources do not detail the pass-through mechanism from distributors to gas stations, nor the expected timeline for final consumers.
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What is the specific fiscal impact of the R$ 1.12 per liter subsidy on the federal budget?
Why it's still unknown: While the global cost of 30 billion for all fuel measures is mentioned, there is no breakdown of the specific cost of the diesel subsidy.
Did not cover: IstoÉ