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Financial News: PETROBRAS: Company Cuts Gasoline Price For The 4th

PETROBRAS: Company Cuts Gasoline Price For The 4th Time In A Row

07/11/2017 - 19:30:00 (RTTNews)

(RTTNews) - Petrobras cut gas and diesel oil prices for the fourth day in a row under its new pricing policy, which allows the company to adjust prices daily and to track more closely the oil prices abroad.

The new pricing policy went into effect on July 3. Since then, Petrobras raised fuel prices only once, on July 4. In other three changes, which happened on July 7, 8 and 11, the company cut fuel prices.

Since the start of the new policy, Petrobras gas prices fell 2.02%, while diesel oil prices decreased 0.45%.

Under Petrobras' new pricing policy, fuel prices may fluctuate according to the variations of the Brent oil barrel and the exchange rate. The increases and cuts must respect a range between -7% and +7%, and Petrobras' should always remain profitable - which means the company no longer wants to subsidize fuel consumption.

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