High Fuel Prices in Brazil Despite Record Oil Production
Despite reaching record oil production levels and exporting millions of barrels, Brazil continues to experience high fuel prices at gas stations. According to data from the National Agency of Petroleum, Natural Gas and Biofuels (ANP), Brazilian oil production in July increased by 13.6% compared to the same month in 2025, reaching a total of 4.498 million barrels per day.
However, this increase does not directly translate to cheaper fuel for drivers, as Brazil still imports certain petroleum derivatives, including diesel and naphtha. In fact, data from the Ministry of Mines and Energy (MME) and the Energy Research Company (EPE) shows that even with a projected 10% increase in national refining capacity between 2025 and 2035, Brazil will continue to be a net importer of derivatives.
The final price paid at gas stations consists of various components, including Petrobras's share, state taxes, federal taxes, anhydrous ethanol mixed with gasoline, distribution, and resale. According to data released by Petrobras for the week of September 6 to 12, 2026, the average price for gasoline in the country was R$ 6.54 per liter, with Petrobras's share representing just over a quarter of the final price.