Application of Cluster Analysis in the Evaluation of Automotive Fuel Prices Marketed in Goiás

Objective: The aim of this study is to present economic indicators constructed through cluster analysis, aiming to identify which gas station brands offer the lowest overall fuel prices. Theoretical Framework: The increasing demand for low-cost products, particularly automotive fuels, is a constant in the Brazilian market, significantly impacting both the economy and consumers' daily lives. This scenario underscores the analysis of prices as a crucial tool for understanding market behavior. Method: Data were obtained from the open data portal of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), focusing on the historical price series of regular gasoline, premium gasoline, and ethanol in the state of Goiás. Cluster analysis was employed to group eight gas station brands into three distinct clusters. Results and Discussion: Findings reveal that Rodoil offers the lowest overall fuel prices, whereas Alesat, Ciapetro, and Raízen have the highest overall prices. These discoveries provide valuable insights into the competitive dynamics of the fuel market in Goiás. Research Implications: The significant debates generated in society by the rising prices of gasoline, ethanol, and other products such as cooking gas and diesel underscore the urgent need to revise fuel pricing policies in the country. Originality/Value: This study contributes uniquely by applying cluster analysis to identify price patterns among different gas station brands, offering an innovative approach to understanding competitiveness in the fuel distribution sector in Goiás.