Senator revives proposal to cushion fuel prices for 2023

Senator revives proposal to cushion fuel prices for 2023
Senator revives proposal to cushion fuel prices for 2023
Richard Stuckert

Lula and Senator Jean Paul Prates in a meeting

Senator Jean Paul Prates (PT-RN), who is part of the transition’s Mines and Energy team and is one of those quoted to head the portfolio, said this Thursday (24th) that he may implement, starting next year, a mechanism to cushion fuel prices in times of high oil prices.

The proposal that creates the Fuel Price Stabilization Account (CEP), a fund with the objective of curbing the rise in prices of oil products, was approved in the Senate in March, but remains stagnant in the Chamber of Deputies.

The idea would be to ease the rise in fuel prices without changing Petrobras’ import parity policy, which obliges the company to readjust the price according to the international market.

This “cushion cushion” would be funded with resources from Petrobras’ dividends, installments of extraordinary financial surpluses, among others.

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“Petrobras is going to make its price policy, for its customers, for the volume, quality of customers. In short, like any company”, declared the member of the transition, adding: “Price policy is not Petrobras’s, it’s the government”.

“Who will give the price policy in general for Brazil, whether there will be a cushion, stabilization account or reference price – without freezing or strong intervention – is the Brazilian government,” said the senator. “The government is one thing and Petrobras is another”, he reinforced.

The senator spoke to the press when he arrived at the Banco do Brasil Cultural Center (CCBB), but did not answer whether the measure would be enough to buy back the increase in the (PIS/Cofins) tax on gasoline and diesel, scheduled for early 2023.

The Proposal for an Annual Budget Law sent by the current government provides for the maintenance of the exemption of PIS/Cofins and Cide on gasoline, ethanol and vehicular gas and of PIS/Cofins on diesel, cooking gas and aviation kerosene.

The measure has an impact of R$ 52.9 billion. For it to be maintained, it will be necessary for the federal government to present another provisional measure, since the current one must expire before the other mandate.

In an interview with Reuters, Prates said that Lula will define the new president of Petrobras later this year.

“He (Lula) is aware, from Egypt he scheduled to talk to me. It was supposed to be yesterday, but he postponed it because of the surgery, so it should be tomorrow (Wednesday),” he said.

The article is in Portuguese

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