The ICMS cut stabilizes gasoline prices in June, ValeCard says

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The average price of gasoline remained virtually stable in June, at 7,594 reais per liter, up 0.03% from May, according to a survey by fleet management company ValeCard released Wednesday.

According to Marcelo Braga, the company’s Fleet Products Manager, the data already reflects the reduction in ICMS taxes in the United States.

“Although in effect only in the last four days of the month, the measure was responsible for generating a significant decrease of 1.61% during this period, which translated into a practically stable monthly average value,” he said in a Note.

The biggest drops were recorded in Piauí, where prices fell by 2%, in Goiás (-1.35%) and in the Federal District (-0.90%). Among the highest increases are Pernambuco (3.01%), Bahia (2.49%) and Amapá (1.95%).

In addition to gasoline, ValeCard said the ICMS reduction also impacted ethanol prices, which fell an average of 6.88% in June.

The average price of a liter in June was 4,927 reais. According to ValeCard research, biofuel is more beneficial than gasoline in São Paulo, Minas Gerais, Goiás and Mato Grosso Do Sul.

In Sao Paulo, the state with the largest ethanol production in the country, the liter costs an average of 4,678 reais, equal to 67% of the price of gasoline.

Pará had the highest price, at 6,703 reais, corresponding to 86% of the average price of gasoline.

The biggest drawback of biofuel, however, was found in Rio Grande do Sul, where the average price of 6,449 reais per liter is equivalent to 92% of the average petrol price.

The method used in the comparison, discounting factors such as the individual range of each vehicle, is that the value of a liter of ethanol must be less than 70% of the gasoline price to be considered more competitive.

Source: Terra

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