UPDATE 1-Brazil’s Petrobras raises diesel prices by an average 6.1 pct

Brazilian state-controlled oil company Petróleo Brasileiro SA increased diesel prices at refineries by 6.1 percent on average with immediate effect, citing higher oil prices and a stronger real currency.

According to a Thursday statement, the decision also stemmed from stronger seasonal demand for diesel as winter peaked in the northern hemisphere.

For years, Petrobras kept fuel prices artificially low in order to avoid pressuring inflation, absorbing sharp losses whenever prices of crude rose in global markets.

Read more

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by WordPress.com.

Up ↑

%d bloggers like this: