Relações comerciais e de preços no mercado nacional de combustíveis

Abstract

Abstract:In January of 2002 the fuel sector entered definitively the free market. Fuel prices from refineries stopped being regulated and importation of derivatives of oil by private companies was allowed. Ethanol prices had been freed since the end of the 1990's. The aims of this study are: to characterize the functioning of the fuel market identifying the main factors that interfere on decision-taking of its agents; to estimate equations of demand for gasoline C, supply of anhydrous ethanol and gasoline and to figure the elasticities of transmission of prices. Results have shown inelasticity in relation to the income and to the price of the demand for gasoline and inelasticity-price for the supply of anhydrous ethanol and gasoline A. Considering the transmission elasticities, it was concluded that an increase in the demand for gasoline C tends to increase the price of anhydrous ethanol more than proportionally to the price of gasoline C; the price of the anhydrous ethanol will tend to vary more than proportionally to the price of gasoline C in case of shocks of supply of anhydrous ethanol and, in the case of variations in the supply of gasoline A, the prices of the anhydrous ethanol and of gasoline C tend to vary in opposing directions.

Supply Behavior of Hydrous Ethanol in Brazil

“…The results for the estimation of the hydrous ethanol supply the third column of Table 5 indicated that both the direct price elasticity of supply (1.35), and the cross price elasticity of supply with respect to anhydrous ethanol (-2.06), were relatively more elastic than those identified in previous studies (Marjotta-Maistro & Barros (2003); Shikida et al (2007);Oliveira et al (2008); Rask (1998);Luchansky & Monks (2009)). These results were expected, in view of the expansion of the flex-fuel car fleet in recent years, such that consumers can choose between fuels considering their relative price.…”

“…However, there is some evidence that the reverse causality might be a plausible assumption. In the anhydrous ethanol supply model estimated by Marjotta-Maistro & Barros (2003) , sugar prices explained the anhydrous supply.…”

“…This might explain why there are fewer studies that analyze their supply elasticities, described in Table 3. Marjotta-Maistro & Barros (2003) estimated the price elasticity of supply for anhydrous ethanol in Brazil, arriving at a value of 0.084. The period used for the analysis was January 1995 to December 2000.…”

Relative Prices of Ethanol-Gasoline in the Major Brazilian Capitals: An Analysis to Support Public Policies

“…This event led to structural changes in the dynamics of the Brazilian fuel market. It is important to point out that, according to [25], as of January 2002, the fuel sector began to operate as a free market, with deregulated prices at the refinery. From then, the importation of petroleum derivatives by private companies was allowed.…”

Tomada de decisão no setor sucroenergético: uma abordagem baseada em opções reais

“…Não só, mas também, essas flexibilidades mitigam os efeitos de crises no setor. (1931-1974) ................................ Fase II: O Proálcool (1975-1990 Fase III: Fim do Proálcool e liberação de preços (1991 -2002) ........................... Fase IV: Veículos flex-fuel e a retomada de investimentos (2003-2010) ........... Fase V: Crise no etanol (2011 Fase VI: Nova política para preços de combustíveis e perspectivas de novos investimentos para o setor (2015 -2018) ........................................................................ ........................................................... .......................................... Carlo para processos estocásticos .....................................…”