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| Name | Symbol | Market | Type |
|---|---|---|---|
| Petroleo Brasileiro S.A. Petrobras | BOV:PETR4 | Bovespa | Preference Share |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.24937 | 0.61% | 41.34 | 41.32 | 41.40 | 41.78 | 41.07 | 41.29 | 31,899,100 | 00:00:00 |
From Apr 2019 to Apr 2024
SÃ O PAULO—Brazilian state-run oil company Petró leo Brasileiro SA, or Petrobras, said Friday it will adopt a new pricing policy for retail fuel that will reduce the domestic pump prices of diesel and gasoline for Brazilian consumers.
The company said that it will cut diesel prices by 2.7% and gasoline prices by 3.2% in refineries. The price reductions will start this weekend.
Petrobras said it will monitor international prices and review its pricing policy monthly.
In the past, Petrobras's retail fuel prices were decided by the government in a bid to control inflation, which critics say led to large losses at the state-run oil giant.
The impact on final prices for consumers depends on the decisions of the distributors and gasoline stations. But if the cuts are fully reflected in retail prices, Petrobras estimates that the price of diesel at the pump will fall by 1.8% and gasoline by 1.4%.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
(END) Dow Jones Newswires
October 14, 2016 08:55 ET (12:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
1 Year PETROBRAS PN Chart |
1 Month PETROBRAS PN Chart |
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