Haddad, Rui Costa and Silveira say that the sale of BR Distribuidora and refineries took away the State’s instruments for regulating fuel prices
The rise in oil prices caused by the war did not expose, in the opinion of ministers from the President’s (PT) government, an effect of privatizations in the fuel sector: the loss of State instruments to influence diesel prices for consumers.
Members of the economic and energy teams said during the press conference this Thursday (12 March 2026) that the sale of Petrobras assets, such as BR Distribuidora and refineries, reduced the government’s ability to act in the distribution chain.
The Minister (Finance) was the first to address the topic. According to him, Petrobras still controls around 70% of national refining, but no longer has a relevant presence in distribution — a segment privatized under the government of the former president (PL).
(Casa Civil) said that the privatization of BR Distribuidora removed from the market a price reference that pressured competitors to charge more competitive prices. “When it’s about to decrease, they delay the decrease, and when it’s about to increase, they anticipate the increase”, he stated, referring to private distributors.
Costa also said that the concentration in retail worsened the problem. According to him, there are cities where a single CPF controls 60% or 70% of gas stations — which, in practice, eliminates competition and allows abusive prices to be set.
The minister (Mines and Energy) called the privatization of BR a “crime against the country”. He said that the previous government sold strategic assets and prohibited Petrobras from returning to the distribution market until 2029 — which prevents any reversal in the short term. However, there is no public proposal to resolve the problem while the legal restriction is in force.
Rui Costa stated that the topic could be discussed in the future. “The president will still prepare the government program for a possible new term, and any measures must be considered in terms of their effects and possibilities“, these. “Nothing that can be announced is public so far.”
PoderData survey carried out in which 58% of Brazilians are against the privatization of Petrobras. Only 28% support the privatization of the company. Among Lula voters, rejection of the sale reaches 68%.
For now, the government’s bet is to reinforce the supervision of the National Agency for Petroleum, Natural Gas and Biofuels (ANP) and put pressure on the R$ 30 billion in tax waivers and subsidies announced this Thursday (12.mar.2026).
What is in the package announced by the government
- Decree No. 12,875 — zeroes the PIS and Cofins rates on diesel for import and sale, the only 2 federal taxes that were levied on the fuel. The exemption represents a reduction of R$0.32 per liter, with an impact of R$20 billion. Read – (PDF – 398 kB);
- MP nº 1,340 — creates a subsidy of over R$0.32 per liter for producers and importers. The cost of the provisional measure is estimated at R$10 billion. Read – (PDF – 651 kB).
