What are Platts Brazil Domestic Fuel assessments?

Platts provides independent, daily price assessments for Brazil import parity, cargoes and domestic transactions across the broader fuel complex: gasoline, diesel and jet fuel. These are based on offers, bids, trades and indicative values provided by buyers and sellers into the country, published during the day as what are called “heards” and used by traders, market intelligence desks, investment banks, regulators, among others, to track the price level of physical commodities changing hands in the Brazilian market. Platts has a history of being the benchmark for Brazil’s regulator in import parity prices (IPPs) of gasoline, diesel and jet since 2019. Import cargo assessments in Brazil have also been published since 2018 and later expanded to reflect origins other than the US in 2023 and expand into more ports in 2025, all organized under the DAP (delivered at place) incoterm for those refined products. In the Brazilian domestic market, Platts focuses on gasoline and diesel (ULSD, or S10 as it is called locally) traded on an FCA (free carrier) basis at the country’s main ports and inland hubs, since 2024. As a price reporting agency (PRA), S&P Global Energy Platts operates with full editorial independence — we have no proprietary trading positions and no commercial interest in where assessed prices land.

Why are these Brazil Domestic Fuel assessments important?

State-owned company Petrobras stopped being a monopoly in the Brazilian oil industry at the turn of the century, but it was later when it started following international prices closely and divested of some its refineries and the distribution business that real competition emerged. More private companies started supplying the country with its own products, and some put together trading arms to also import more, resulting in a myriad of global price dynamics influencing the domestic market. When the Russia-Ukraine war broke out and large volumes of Russian diesel found in Brazil a new significant customer, volatility and competition increased. Heightened industry and price transparency is needed in this progressively more complex market. Platts supplies reliable data that is cross-checked with buyers and sellers, using its proven market-on-close methodology, which can serve as the base for over-the-counter hedging agreements. Especially in times of price and foreign exchange volatility, adding those instruments to import and pricing strategies is key for any company in the Brazilian fuel market.

What do the different delivery basis mean?

Platts assesses West African fuel prices on three primary delivery bases: STS Lome (Offshore): Reflects prices for cargoes traded on a ship-to-ship (STS) basis, in the offshore Lome market. This market is used to supply regional shorts across the Gulf of Guinea, including countries such as Ghana, Ivory Coast, Benin, and Togo. FOB West Africa (Coastal): Reflects prices for cargoes loading basis Lekki or Lagos, Nigeria, with other terminals across West Africa coastline considered in the assessment. This basis is most relevant to refiners and producers exporting from the region, including output from Nigeria's Dangote refinery. DAP Lagos: Reflects the value of refined product delivered to Lagos terminals, representing the landed cost of fuel imports into Nigeria — West Africa's largest fuel market. CFR South Africa: Reflects import parity pricing for cargoes delivered to South African ports, linking West African supply economics to Southern African demand.

What is the difference between delivery locations

Brazil is a country of continental proportions, and markets have traditionally organized themselves around the closest main sources of supply. Northeast Brazil is the region where ships coming from the US, Europe or Russia usually arrive first, due to them being in closest proximity, and where the country is structurally short in refining output. Itaqui, in the northeastern state of Maranhao, has established itself as the main fuel hub in Brazil, with the nearby Suape port the second-largest alternative. Other ports in North Brazil, such as Belem and Manaus, have their supply chains tied to the Northeast, and this macroregion is called the North-Northeast. In the Southeast, Santos is the most important port and can be the first destination for imports coming from the Persian Gulf or India, for example. Together with Paranagua, in the South, it forms the main import hub of what is called the Center-South, which feeds Center-West Brazil — the region of the country’s most abundant crops. High Petrobras capacity in the region makes it so diesel import needs are smaller, and it is actually long in gasoline. Platts publishes prices at the following locations: FCA assessments: Itaqui, Suape, Santos, Paulinia (ULSD only), Paranagua, Araucaria (ULSD only) DAP assessments: Itaqui, Suape, Aratu, Belem, Santos, Paranagua IPPs: Itaqui, Suape, Manaus, Guamare, Aratu, Santos, Paulinia, Duque de Caxias, Betim, Cubatao, Maua, Sao Jose dos Campos, Paranagua, Araucaria, Tramandai, Canoas

What is the relationship between Brazil fuel prices and other global markets?

While a good portion of the spot market in Brazil follows global price trends, since the country can import up to one quarter of its fuel needs at times, a massive domestic production belongs to state-owned Petrobras, whose pricing strategy might follow more closely internal costs or consider socioeconomic indicators such as inflation. This results in sometimes lower or even negative correlation with international markets, depending on local fundamentals. In times of higher domestic output, for example, imports turn less significant in the average pricing pool of the market, and new vessels into the country might prompt bargain sales to free up tank storage space, or even spark a secondary domestic quota re-sale market at lower prices than abroad. On the other hand, competitive imports can lead to a more dynamic and liquid spot market, partly displacing domestic producers for a while. Even so, pricing in Brazil almost always revolves around NYMEX futures, with all DAP import cargoes and even FCA negotiations, at the end of the day, being priced as a differential to ULSD or RBOB contracts.

What differentiates Platts from other price sources?

Methodology: Platts does not publish averages of reported prices, nor does it use any model-based calculation. Platts has a transparent, survey-based methodology that reflects market value at the time of close of these markets (1:30 pm US Central Time for DAP assessments and 4:30 pm Brasilia time for FCA assessments), designed to track firm offers/bids/trades and take into account buyer/seller bias. Coverage: On top of relevant Brazilian refined products news, Platts also has a joint market report with biofuels. It also provides comprehensive coverage of financial movements, such as oil futures news, and expert insights for the US Gulf Coast, Europe and Russian markets, which are key regions for Brazilian companies. Credibility & Transparency: Platts is globally recognized as an independent and credible price reporting agency, following IOSCO principles and used across the world for physical contracts and financial instruments. The methodology is transparent, available to the general public, and subject to regular audits and reviews. Real-Time Market Data: Platts delivers real-time price information via heards, intraday publications and final assessments, as well as market commentaries for all relevant products and regions.

What is the methodology used for Platts Brazil fuel prices?

Platts uses a transparent, market-based methodology to assess Brazil fuel prices: Data Collection: Platts gathers data from qualified market participants — including distributors, importers, brokers, refiners — capturing concluded trades, firm bids and offers, and indicative values across all Brazilian regions. Assessment Process: Assessments are conducted during defined trading windows, during Market On Close (MOC), reflecting specific delivery timings and quantity, with final assessments published at 1:30 pm US Central Time for DAP prices and 4:30 pm Brasilia time for FCA. DAP assessments track cargoes of 250,000-350,000 barrels to arrive in 15 to 30 days to Brazil, while FCA port assessments reflect 300-2,000 cubic meters and FCA inland assessments reflect 120-2,000 cubic meters, both for prompt delivery (0-7 days). Quality Control: Experienced price reporters review all assessments to verify if they reflect market value, cross-checking against related markets (futures, other regional prices) for consistency and investigating outliers, and the price needs to be validated by a second pair of more senior eyes. Transparency & Verification: Platts publishes detailed methodology and specifications documentation and maintains a robust verification process with regular audits and reviews. Market participant feedback is incorporated to continuously improve the assessment process.

Platts Brazil Domestic Fuels Price Assessments

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What is the price of fuel in Brazil today?

Access daily Platts price assessments for Brazilian refined products namely gasoline and diesel. Track real-time market movements across FCA and DAP basis at Itaqui, Suape, Santos , Paranaguá, Paulínia and Araucária delivery points with transparent, market-based pricing data updated every trading day at 4:30pm London time.

A spot market developed around Brazilian domestic fuel production due to the country being short of refined products in the Northeast and dependent on diesel in the South/Southeast regions, where the market also started trading more imports. S&P Global Energy Platts delivers independent, transparent price assessments for Brazilian fuels based on verified, real market activity — offering traders, refiners, and market participants the data they need to make informed decisions.

Our assessments cover the full spectrum of domestic Brazilian fuels with daily updates reflecting market value at the close of trading.

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S&P Global Energy methodologies bring consistency and robustness to our price assessments through principles and parameters that guide our market specialists at every stage of the process.

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