CADE launches Working Paper on fuel resale in Brazil

On 4 March, the Administrative Council for Economic Defense (CADE) launched the working paper Concentração na Revenda de Combustíveis Líquidos: Uma Análise Municipal com Base em Redes Societárias (2025), presenting a detailed analysis of the competitive structure of fuel resale in Brazil by identifying business ties among gas stations.

The document is based on cross-referenced data from August 2025 by the Brazilian Agency for Oil, Natural Gas, and Fuels (ANP) and the Brazilian Federal Revenue Office and analyses regular petrol, hydrated ethanol, S10 and S500 diesel oil markets.

Results show that concentration in fuel resale is widespread throughout the country, especially in smaller municipalities, and concentration levels may be higher than those directly noticed by consumers.

The methodology is based on ownership networks and the study broadens the understanding of the sector's organisation, contributing to the improvement of competitive analyses and public policies aimed at promoting competition in the fuel market.

The document reinforces the importance of continuous monitoring of the sector, both from a behavioural and structural perspective, by collecting evidence of ownership and large ownership networks in fuel resale.

According to Lilian Marques, Chief-Economist at CADE, the study is another publication by the Department of Economic Studies of CADE (DEE) aligned with the Directive no. 379/2025, focused on the fuel market. “Despite all the advances regarding the transparency of the Consulta Posto Web, consumers still lack understanding of the economic links between companies, which directly impacts perceived competition, as can be seen in the results” she states.

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Working Papers

The Department of Economic Studies’ series of publications disclose preliminary results of economic studies related to CADE's fields of activity either to improve the reviews of mergers and acquisitions, improve investigations of anticompetitive practices, or promote competition advocacy in public and private sectors.

The authority aims to improve the reviews, in addition to providing more visibility to the work of CADE’s technical team and everyone involved. The series shares ideas and collects criticism from the scientific community before publication.

The opinions expressed in the documents are the authors’ views, not necessarily representing the perspective of CADE or the Ministry of Justice