Brazil Fuel Distribution: Hit the Pump: Elevated import premiums keep us optimistic heading into 3Q

Research evidence excerpt

Brazil Fuel Distribution: Hit the Pump: Elevated import premiums keep us optimistic heading into 3Q

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Brazil Fuel Distribution

Hit the Pump: Elevated import premiums

keep us optimistic heading into 3Q

Industry Overview

Hit the pump: tracking fuel distribution segment data 14 July 2026

Hit the Pump is a monthly deep dive into Brazil’s fuel distribution landscape. We track Equity

key industry metrics including volumes, market share, pricing, and margins. We also Latin America

monitor data for Biofuels, LPG, and Lubricants segments, providing data-driven insights, Oil & Gas

trends, and commentary to support investors’ decision-making process.

Table of Contents

Imported diesel at high premiums

Despite the recent decline in oil prices, imported diesel continues to be offered at high Replacement margins 2

premiums. The latest feedback from Platts indicated diesel offers at PBR +R$1,700/m³ Volume sold by distributors in Brazil 3

(vs. R$2,500/m³ at the peak of the Middle East conflict). Therefore, although we expect All fuels: Volume and Market Share 4

some margins normalization in 3Q, we expect them to remain robust. The recent Russian Diesel: Volume and market share by segment 5

diesel export ban – against a backdrop of refinery maintenance and Ukrainian attacks on Gasoline: Volume and market share by segment 7

refining infrastructure – should continue to support premiums. Also, logistical Ethanol: Volume and market share by segment 8

bottlenecks at key Brazilian ports, including Santos, Itaqui, and Paranaguá, are likely to Sell-out Pricing 9

further sustain tight market conditions and keep import premiums at attractive levels. Diesel inventory variation 10

Strong expectations for the 2Q print Imports overview 11