Brazilian hydrous ethanol seen rising 3% following Petrobras’ price shift on fossil

In Brazil, hydrous ethanol prices are expected to rise 3% as a result of Petrobras’ move to raise gasoline and diesel prices 6% and 4% respectively. Even with higher prices, the amount of ethanol sold is expected to also increase, boosting the overall national consumption of ethanol during the next 10 to 15 days before the higher price hits the pump and potentially impacts demand. Platts expects ethanol consumption to soar to a record 1.7 billion liters in October as a result.