FOREX TradingCharts.com

Financial News: PETROBRAS: Company To Review Fuel Prices Daily

PETROBRAS: Company To Review Fuel Prices Daily

07/02/2017 - 20:51:00 (RTTNews)

(RTTNews) - Petrobras' board of directors decided that the company should review fuel prices on a daily basis starting July 3 - a significant change compared to the current policy, in which the Brazilian oil firm adjusts prices at least one time per month.

Petrobras stated that the current pricing system was insufficient to keep up with increased volatility in foreign exchange rates and oil prices. The company also said that it would keep selling fuel to consumers for higher prices than abroad, to ensure its profit margin. The new policy determines that the change in fuel prices at refineries may fluctuate between -7% and + 7%.

Any adjustment outside this range will require authorization from an internal committee. Investors reacted positively to the new policy.

Petrobras stocks were rising more than 1% in the Brazilian stock exchange, receiving an additional boost of a 2% increase in international oil prices. Future fuel price changes will be announced through the website www.petrobras.com.br/precosdistribuidoras.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Existing Home Sales Drop More Than Expected In June (01 hr(s), 49 min(s), 24 sec(s) ago)
(RTTNews) - With low supply muting overall activity, the National Association of Realtors released ...Full Story»

Eurozone Private Sector Growth Moderates In July (04 hr(s), 24 min(s), 24 sec(s) ago)
(RTTNews) - Eurozone private sector started the third quarter on a solid footing, but the pace of ...Full Story»

Iceland Wage Growth Slows In June (06 hr(s), 07 min(s), 24 sec(s) ago)
(RTTNews) - Iceland's wage growth eased in June after accelerating in the previous month, figu ...Full Story»

Taiwan Jobless Rate Falls As Expected In June (07 hr(s), 15 min(s), 24 sec(s) ago)
(RTTNews) - Taiwan's unemployment rate decreased marginally in June, in line with expectations ...Full Story»

Japan Supermarket Sales Fall In June (07 hr(s), 25 min(s), 24 sec(s) ago)
(RTTNews) - Japan's supermarket sales declined again in June, the Japan Chain Stores Associati ...Full Story»

Taiwan Industrial Production Climbs More Than Expected (08 hr(s), 23 min(s), 24 sec(s) ago)
(RTTNews) - Taiwan's industrial production increased for the second straight month in June, an ...Full Story»

Eurozone Private Sector Growth At 6-Month Low (08 hr(s), 25 min(s), 24 sec(s) ago)
(RTTNews) - The Eurozone private sector started the third quarter on a solid footing but the pace ...Full Story»

German Private Sector Growth Eases In July (09 hr(s), 0 min(s),24 sec(s) ago)
(RTTNews) - German private sector output growth slowed for the second month in July, flash survey ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Existing Home Sales Drop More Than Expected In June

07/24/2017 - 11:03 AM (RTTNews)
(RTTNews) - With low supply muting overall activity, the National Association of Realtors released ...Full Story>>

Eurozone Private Sector Growth Moderates In July

07/24/2017 - 08:28 AM (RTTNews)
(RTTNews) - Eurozone private sector started the third quarter on a solid footing, but the pace of ...Full Story>>

Iceland Wage Growth Slows In June

07/24/2017 - 06:45 AM (RTTNews)
(RTTNews) - Iceland's wage growth eased in June after accelerating in the previous month, figu ...Full Story>>

Taiwan Jobless Rate Falls As Expected In June

07/24/2017 - 05:37 AM (RTTNews)
(RTTNews) - Taiwan's unemployment rate decreased marginally in June, in line with expectations ...Full Story>>

Japan Supermarket Sales Fall In June

07/24/2017 - 05:27 AM (RTTNews)
(RTTNews) - Japan's supermarket sales declined again in June, the Japan Chain Stores Associati ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.