State-controlled oil company Petróleo Brasileiro SA introduced on Wednesday a new natural gas pricing policy that sets lower prices for smaller quantities sold in local markets.
In a securities filing, Petrobras said final prices for liquefied natural gas stored in cylinders of less than 13 kilograms and sold to Brazilian households will correspond to the average of butane and propane prices in European markets plus a 5 percent margin.
That will represent a 6.7 percent average increase in refinery prices starting on Thursday, the filing said. Prices for so-called GLP-P13 natural gas will be revised at the fifth day of every month. (Reporting by Bruno Federowski and Luciano Costa; Writing by Bruno Federowski; Editing by Chizu Nomiyama)