States have decided to increase ICMS on fuel prices from February

The tax will be adjusted for petrol, diesel and cooking gas

Joao Carlos Mazzella/Fataarena/Estadao ConteudoGASOLINE PRICE INCREASE
The gasoline tax rate will increase by 0.15 reais, that is, from 1.22 to 1.37 reais per liter.

Tax rates for ICMS (Goods and Services Tax) fuel prices will increase by 12.5% ​​from February 2024. Announcement National Fiscal Policy Council was published this Thursday, 26. The new values ​​will be valid until the end of next year. As a result, the tax rate Gasoline will increase by 0.15 reais, that is, from 1.22 to 1.37 reais per liter. At st diesel, the increase will be 0.12 reais. This means that from 0.94 reais per liter of fuel will cost 1.06 reais. Now for cooking gas the increase will be 0.16 reais, from 1.25 to 1.41 reais per kilogram. According to Comsefaz (National Committee of Financial Secretaries), the increase takes into account the update of inflation in the period from November 2021, when the tax base was fixed according to average sales values. In addition, according to Comsefaz, this would be a way to mitigate the volatility of the impact of pricing policies practiced by Petrobras. State duty is included in the final price of fuel. The price consists of refinery costs, resale margin, and federal and state taxes.

*With information from the correspondent Leticia Miyamoto.

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