Import parity has become a common expression in conversations about fuel, but it still sounds abstract. For some, it is synonymous with automatic increases; for others, a distant rule that does not connect with Brazilian reality.
In practice, the concept exists to guide decisions in a market that mixes local production, imports, taxes, and logistics. Understanding where the myths are helps read prices with less noise.
What import parity really measures
Import parity is a cost reference. It estimates how much it would cost to bring fuel from abroad to Brazil, considering items such as:
- international price of the derivative (gasoline, diesel, LPG); - exchange rate; - maritime freight and insurance; - port fees and domestic logistics.
It is not a price “imposed” on the market. It is a benchmark to compare whether it is more worthwhile to produce and sell domestically or to import to meet demand.
Myth: parity means copying the international price
This is one of the most common misconceptions. Parity does not require anyone to sell exactly at the foreign price. It serves as a benchmark.
In Brazil, the final price depends on a sum of local decisions and costs:
- refining capacity and operating cost of refineries; - federal and state taxes; - distribution and retail margins; - mandatory blending of biofuels.
Even with oil rising or falling abroad, pass-through is neither automatic nor uniform.
Truth: parity influences supply
When the domestic price stays well below the import reference for long periods, importing becomes less attractive. This can reduce available supply, especially in regions more dependent on imported product.
On the other hand, when the domestic price is close to or above parity, private importers tend to be more active. The result is usually a better-supplied market with more sourcing options.
Myth: parity only matters to importers
Even those who have never heard of importation feel the indirect effect. The reference influences production, sales, and investment decisions in logistics.
In everyday life, this appears in simple ways:
- price differences between regions of the country; - greater sensitivity of diesel to external variations; - moments when adjustments are delayed or happen all at once.
Truth: in Brazil, parity coexists with political and technical choices
The Brazilian market is not neutral. There are decisions about inventories, taxes, blends, and the pace of adjustments that shape the final price.
Parity does not eliminate these choices. It coexists with them. In certain periods, prices are more aligned with the international market; in others, there are gaps upward or downward.
Where parity weighs more — and where it weighs less
The impact varies by product:
- **Diesel**: more sensitive to parity, as it depends more on imports at certain times. - **Gasoline**: influenced, but local production and ethanol cushion part of the fluctuations. - **LPG**: logistics and regionalization often weigh as much as the external reference.
Reading parity as a thermometer — and not as a sentence — helps explain why prices change, when they change, and why sometimes they do not change.
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