Brazil diesel imports hit 4-year August low on global tightness, price gap

Brazil's diesel imports fell to 1.2 million cubic meters in August, the lowest for that month since 2020, down 18% month-on-month and 6% year-on-year, per Citi. The decline reflects global supply tightness and a widened gap with international prices, while gasoline imports surged 280% year-on-year due to lower domestic production and resilient demand. This signals shifting fuel supply dynamics in Brazil, with potential implications for Petrobras pricing and domestic fuel markets.