Brazil, the largest fuel consumer in South America, has been going through many changes in fuel consumption and pricing dynamics. Since state-led oil company Petrobras started to follow the international price parity reference for gasoline and diesel, E100 hydrous ethanol consumption has started to spike due to a favorable price advantage for consumers.
Brazilian drivers have shifted their consumption to the biofuel E100 and in 2019 the hydrous share in the country’s energy matrix accounted for 44%, or double the share seen in 2017.
The fuel market changes are continuing in Brazil, with Petrobras planning to sell eight of its 13 refineries and open up the refining market for multiple competitors.
