Brazil’s Petrobras raises fuel prices

Rogerio Jelmayer – The Wall Street Journal, 9/30/2015

Brazil’s state-run oil company Petróleo Brasileiro SA said it will raise fuel prices across the country with immediate effect.

Petrobras, under a new administration, will raise gasoline prices by 6% and diesel prices by 4% at its refineries, the company said in a news release late Tuesday. Any change to prices at the pump is still unclear, as they are set by gas-station owners.

Petrobras needs to import gasoline and diesel fuel to meet domestic demand. The weakening of the Brazilian currency, the real, against the U.S. dollar has made those imports more expensive.

Read more…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s