Petrobras mulls lowering Brazil fuel prices in 2016

State-controlled Brazilian oil company Petroleo Brasileiro SA is considering lowering wholesalegasoline and diesel prices by year-end, which would be the first time since September 2015, O Globo newspaper said on Wednesday.

Citing sources close to management, the paper said the company may cut prices of fuels at its refineries to match those of international competitors.

In a news conference on Tuesday, Chief Executive Officer Pedro Parente said the company would not need government approval for a price adjustment, a change from the policy under impeached President Dilma Rousseff.

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