Brazil’s Diesel and Gasoline Imports Dwindle in 2023

According to a study released by the consulting firm StoneX on the country’s external purchases of petroleum derivatives, Brazil imported less diesel and gasoline last year compared to 2022. The analysis, based on data from the Ministry of Development, Industry, and Commerce (MDIC), reveals a decrease of 8.8% in diesel imports and 8.2% in gasoline imports in 2023 compared to the previous year.

In 2023, the imported volume of diesel reached 14.7 million cubic meters (m³), the second-highest value in the historical series. The report, authored by analysts Bruno Cordeiro and Isabela Garcia, attributes the decline in diesel imports to factors such as the expanded production of diesel A (without biodiesel addition) by refineries and the increase in the biodiesel blending rate from 10% to 12%.

December stood out as a highlight for diesel, recording the highest volume in the historical series for the month at 1.91 million m³.

Russia emerged as Brazil’s primary diesel supplier, accounting for 50.45% of total external purchases, followed by the United States at 24.47%. The Western embargo on Russian products in response to the Ukraine invasion led Russia to redirect its products to other markets, finding demand for derivatives in Latin America, noted the consulting firm.

Between January and November of the past year, diesel sales grew by 3.4% compared to the same period in 2022, reaching 60.16 million m³. This surge was driven by positive economic performance and increased soy and corn production, necessitating more deliveries.

In the case of gasoline, imports totaled 4.16 million m³ last year, an 8.2% reduction from 2022. December saw an 80.5% decrease in external purchases compared to the same month in 2022.

Source: Valor Econômico

Sharing is caring!