Brazil president’s office says will preserve Petrobras’ pricing policy

(Reuters) – The office of Brazilian President Michel Temer said in a written statement on Wednesday that it was committed to the financial health of Petroleo Brasileiro SA and it would continue to preserve the state-led oil firm’s fuel pricing policies.

A government source told Reuters that Temer may scrap a market-based pricing mechanism that Petrobras has used for the past year and revert to selling all fuel below costs after a trucking strike largely paralyzed the nation the past 10 days. Temer acknowledged in a television interview late Tuesday that he was open to reviewing the pricing policy.

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