Higher global prices cut gasoline demand as Petrobras publicizes retail rates

摘要

The increase in international gasoline prices negatively affected gasoline consumption in 1Q in Brazil,when consumption normally peaks since hydrated ethanol supplies are reduced while sugarcane is in the off-season.Between Jan.and Feb.,sales of C-gasoline reached their lowest level since 2011,with 6.08MM m~3(38.19MM bbl)marketed domestically,down 6.7 compared to the same period in 2018,according to data from the National Agency of Petroleum,Natural Gas,and Biofuels.In the state of Sao Paulo,the drop was 15 in the period to 1.26MMm~3(7.91MM bbl).