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Financial News: BRAZIL: Regulator Rebuffs Any Kind Of Intervention In

BRAZIL: Regulator Rebuffs Any Kind Of Intervention In Fuels Pricing Policy

06/07/2018 - 15:57:00 (RTTNews)

(RTTNews) - Brazil's National Petroleum, Natural Gas and Biofuels Agency (ANP) has reiterated that it does not intend to interfere with Petrobras' fuels pricing policy and that the company should have the independence to determine its selling prices in the refineries.

According to the regulator's general director, D?cio Oddone, a public consultation launched by the agency is only to analyze the feasibility of changing the periodicity of the disclosures of the readjustments by the state-owned oil company. According to him, the methodology of calculation adopted by Petrobras, which takes into account changes in oil prices and exchange rates in the international market, is not under discussion.

"At no point was there any question about the freedom that Petrobras has. What we are doing is discussing whether there is a need to change the readjustment dates. There is no interference, we do not believe that" he said.

Oddone made comments in the launching of in the fourth round of auctions of fields in the pre-salt layer.

Last month, Petrobras's fuels pricing policy led to a spike in diesel oil and gasoline at the pump, triggering a massive trick drivers' strike in Brazil.

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