Governor Rodrigo Garcia and Secretary Felipe Salto announced, this Monday (27), the anticipation of the reduction in the ICMS tax rate on gasoline from 25% to 18%. Garcia states that the expectation is a drop of around R$ 0.48 at the pump. Considering the average value of R$ 6.97, the liter of fuel would be below R$ 6.50 with this decision, according to the governor.
The reduction is immediate and follows the new federal legislation: the Secretariat of Finance and Planning (Sefaz-SP) published today in the State Official Gazette an Information to comply, with retroactive effects to June 23, with Complementary Law No. 194/22.
“Despite São Paulo’s decision to help reduce the price of gasoline, we cannot hide the reality: ICMS is not and has never been the villain of fuel prices in the country. The pricing policy is Petrobras’s,” Garcia highlighted.
The governor also announced that Procon will release average fuel prices before the ICMS reduction so that consumers can know whether the measure has resulted in a reduction in prices at the pump.
According to Secretary Felipe Salto, in annualized terms, São Paulo has already contributed R$4.4 billion to keep gasoline prices down. For diesel, R$1.1 billion. Added to this cost are the losses related to energy and telecommunications, R$9.3 billion annually, and LPG, R$0.5 billion. Thus, São Paulo's total contribution is estimated at R$15.2 billion.
Salto notes that the continued rise in oil prices and Petrobras’ transfers should erode these eventual gains for consumers. “In any case, São Paulo froze the ICMS tax included in gasoline at R$1.50 since November 2021. Today, the tax would be at R$1.74 without the freeze. With the reduction announced now, it could go to R$1.26 on July 1. Thus, there is already R$1.48 cents of contribution to the reduction in the price at the pump”, explains the Secretary of Finance and Planning.
It turns out that, for this effect to be felt, two conditions beyond the control of the State Government would have to be guaranteed: the transfer of the tax reduction at the pump; and the non-adjustment of prices by Petrobras, based on an oil price stabilization bill, which was approved in the Senate and is being processed in the Chamber.
In cash, the Government of São Paulo already contributes R$360 million per month, that is, something like R$2.2 billion/half-year or R$4.4 billion in annualized terms.
The Sefaz-SP Newsletter also reduces electricity operations from 25% to 18%, in relation to residential bills that show monthly consumption above 200 kWh, and communication services.