Petrobras adjusts gasoline prices as tax cuts offset costs

Petróleo Brasileiro S.A. - Petrobras raised its refinery gate price for gasoline A by a total gross amount of 0.63 BRL per liter, effective 10 September 2026. This change brings the average sales price for distributors to 3.24 BRL per liter. The total adjustment reflects the expiration of a temporary 0.44 BRL discount alongside an operational increase of 0.19 BRL per liter.

Planning Minister Bruno Moretti stated on 9 September 2026 that the federal government has no pact with Petrobras regarding fuel price adjustments. Moretti emphasized that the state-controlled producer sets its pricing autonomously based on its own operational parameters.

To offset fuel costs at the pump, the federal government enacted a 30-day tax relief decree reducing PIS/Pasep and Cofins rates on gasoline by 0.63 BRL per liter. Federal taxes on hydrous ethanol were also reduced by 0.19 BRL per liter for September 2026.

The government also authorized a new diesel subsidy of 1.00 BRL per liter. Combined with an earlier subsidy of 1.12 BRL under Provisional Measure 1.363/2026, total diesel support reaches 2.12 BRL per liter through the end of September 2026. According to Moretti, the broader fuel relief package costs an estimated 7 billion BRL per month and reaches a cumulative cost of 40 billion BRL between March and the end of September 2026.