Petrobras (PETR4): Haddad says there may be a drop in prices from July, when the reencumbrance returns; stocks have a down day

The Minister of Finance, Fernando Haddad, said this Wednesday (17) that Petrobras (PETR3;PETR4) still has room to reduce fuel prices to compensate for the end of the re-encumbrance cycle being carried out by the government. He stated that the country needs to take advantage of the moment when oil prices and the dollar have fallen and the government is taxing fuel again to maintain positive impacts at the pump.

“The increase (in taxation) scheduled for July 1st will be absorbed by a drop in prices, which was left for that day. We didn’t lower everything we could, just waiting for July 1st, when the export tax and the reencumbrance cycle ends, just as it will happen with diesel at the end of the year, and there is already a fat to accommodate the reencumbrance”, he said. Haddad.

In February, the government announced that it would once again charge federal taxes on gasoline and alcohol.

The partial re-encumbrance would take effect from March, and would be offset by a tax on crude oil exports, valid for four months. At the end of this period, in early July, the government needs to decide whether it will promote a new round of raising taxes on gasoline and alcohol or whether it will find a compensating source for the collection.

The exemption on diesel oil and cooking gas will be valid until the end of this year.

Shares have a day of decline despite oil gains in the session and after rising assets the day before, with preferred papers standing out among the lows this Wednesday, down 2.24%, to R$ 25.71, at 4:26 pm (Brasília time). Ordinary assets, on the other hand, had a less expressive fall, of 0.82%, to R$ 28.96.

(with Estadão Content)

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