March was a month marked by speculation and increased fuel imports in the domestic market. The period was also characterized by cabotage , with intense movement between local ports to transfer barrels of oil .
This "ping-pong" effect on fuel is explained by the real risk of shortages in Brazil, especially in the Southeast region, due to the closure of the Strait of Hormuz caused by the war between Iran and the United States .
An example of this trend can be seen in the figures from the Port of Santos, which practically quadrupled its volume of gasoline imports compared to February, with a 278% increase in the quantity unloaded.
When looking at coastal shipping, the largest port complex in Latin America recorded an increase of 11.5%.
Data from the Santos Port Authority (APS) shows that 134,709 tons of gasoline arrived in Santos last month, compared to 36,575 tons imported in February.
Among Brazilian port terminals, fuel handling also increased, precisely to meet this demand, serve the national market, and avert the danger of shortages at gas stations. A total of 134,914 tons were handled in March, compared to 120,934 tons recorded in February.
“There was a great deal of speculation that led to a rise in the price of oil and the risk of the Strait's closure being prolonged. These factors caused a rush to quickly unload gasoline to supply the Brazilian market,” Anderson Pomini , president of the Santos Port Authority (APS), told NeoFeed .
Another point raised by the executive to explain the increase in volume was the recent appreciation of the real against the dollar, which, in practice, made the imported product relatively more attractive, especially at a time of uncertainty about the guarantee of supply.
In March, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) adopted a series of measures to guarantee the stock of gasoline and diesel oil in the country. Among them, it implemented stricter monitoring of the volumes of each distributor and follow-up on possible price abuses applied to the consumer.
Data from the agency shows that, in 2025, Brazil recorded a 27.6% increase in the volume of gasoline imports.
Last year, the total movement of fuels at the port of Santos, including the loading and unloading of gasoline, fuel oil, and diesel, amounted to 9.6 million tons. In the first three months of 2026 alone, three million tons have already passed through the terminals.
“Besides Petrobras, many other independent fuel suppliers, who sell to unbranded gas stations, have also increased their orders. What we've noticed is a search to increase supply and ensure market security,” says Pomini.
The cargo arriving at the port of Santos comes from various locations, such as the United States, Russia, and the Middle East itself. In practice, orders were expedited to minimize the impact on prices.
In addition to the direct increase in vessel traffic in Santos over the past 30 days, due to market demand, the Port Authority has adopted a system to prioritize the loading of ships carrying fuel.
In practice, this movement allows the vessel to "jump the queue" and reduce the average waiting time in the anchorage area for a berth to become available. On average, a ship takes about three days to dock. Now, those carrying petroleum derivatives practically don't wait.
According to the port authority, the trend is that this accelerated pace will be maintained at least until the end of the geopolitical conflict. Today, the port of Santos has 66 berths to receive all types of cargo, including grains, containers, liquid bulk, and fuels.
“We’ve had cases of requests for preferential treatment. Right now, the unloading of fuel at the port of Santos is a priority. Nobody knows what might happen from now on regarding the war,” says the president of APS.
Pomini believes that, with this maritime rush, the trend is for revenue at the Santos port terminal to register growth in the first quarter, although this growth is not yet consolidated. "Only the Port Authority can break the queue when there is public interest and a situation that could affect the country's economy. That's what we're experiencing right now."
A few weeks before the start of the tariff hikes imposed by US President Donald Trump in April of last year, the port of Santos faced a rush of ships, but in the opposite direction to what is happening now.
“We are seeing something similar, but in the opposite direction. At the time, meat exporters did not want to be impacted by the new import tax. And now companies want to secure their gasoline stock while waiting for the war to end,” says Pomini.
In the first quarter of 2026, cargo handling in Santos reached 42.8 million tons, including all products. This volume is higher than the total achieved in 1999, which was 42.7 million tons.
The Santos terminal currently handles almost 30% of all Brazilian commercial cargo. China was the main partner. The value transacted between January and March with the Asian country was US$ 13 billion, compared to US$ 4.4 billion from the United States.
Last year, the Santos Port Authority closed with revenues of R$ 1.4 billion and R$ 4 billion in cash.
