Consumer fuel prices in key markets are failing to track the recent stabilization of global crude oil benchmarks, driven by persistent refining bottlenecks and the withdrawal of government subsidies.
While Brent crude has hovered near $72 a barrel, retail diesel prices in Brazil are trading at levels that would typically correspond to a $140-a-barrel crude market, according to Handelsavisen analysis.
This extreme disconnect highlights how local supply chain dynamics and policy decisions are decoupling pump prices from global energy trends.
The pricing anomaly is not isolated to Latin America.
In Portugal, diesel prices at fuel stations have remained above the regulatory reference price for 42 consecutive days, data cited by Jornal de Negócios indicates.
The prolonged gap between pump prices and regulatory benchmarks suggests that structural issues within the refining and distribution sectors are preventing cost reductions from reaching consumers, even as global input costs moderate.