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Petrobras Revises the Price of Fuels

Source: www.gulfoilandgas.com 1/5/2017, Location: South America

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According to our pricing policy announced in October 2016 , the Executive Group Markets and Prices (GEMP) decided to raise the price of diesel at the refinery by 6.1% on average. The new values start to apply as of 1/6/2017. The price of gasoline in the refineries remained unchanged.

The decision is mainly explained by the effect of the continued, albeit more discreet, increase in oil prices in international markets, the appreciation of the real since the last price revision and adjustments in our competitiveness in the domestic gasoline and diesel market. The revisions announced today also reflect seasonal movements in global derivatives prices, with diesel prices responding to higher winter demand in the northern hemisphere.

We reaffirm your pricing review policy at least once every 30 days, giving you the flexibility to handle high volatility variables.

As Brazilian law guarantees price freedom in the fuels and derivatives market, the revisions made by us in the refineries may or may not be reflected in the final consumer price. This will depend on onlays made by other members of the fuel chain, especially distributors and resellers. If the adjustment made today is completely passed through and there are no changes in the other parcels that make up the final consumer price, diesel may increase by 3.8% or around R $ 0.12 per liter on average.

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