Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news published in the media, informs that it has carefully observed the developments of the international oil market and its impact on the Brazilian market. The company reiterates that product price adjustments are made in the normal course of its business, due to the continuous monitoring of the markets, which includes, among other procedures, analysis of competitive prices by sales pole, in balance with the national and international markets, taking into account the best alternative accessible to customers.
As disclosed on May 16, 2023, the Commercial Strategy for diesel and gasoline allows Petrobras to compete more efficiently, taking into account its market share, to optimize its refining assets, and profitability in a sustainable manner. Adjustments continue to be made without defined periodicity, avoiding the transfer to domestic prices of the conjunctural volatility of international quotations and the exchange rate.
It should be noted that the moment is of great uncertainty regarding the recovery of the global economy, which directly influences the demand for energy, and regarding the supply of oil and fuels, in general. This combination, in the very short term, has led to a rise in reference prices and volatility. At the same time, there is an increase in the flow of fuels from Russia to Brazil.
In this context, Petrobras has been carefully observing the unfolding of global market fundamentals, as well as their impact on Brazil. Any adjustments, when necessary, will be supported by technical and independent analysis.
Facts deemed relevant on the subject will be timely disclosed to the market.