Petrobras Announces Price Drops of 4.3 Percent for Gasoline, 4.4 Percent for Diesel

RIO DE JANEIRO, BRAZIL – Petrobras (PETR3; PETR4) has announced to customers that it will reduce the prices of derivatives in its refineries as of Thursday, February 6th. The liter of gasoline will cost 4.3 percent less and diesel will be 4.4 percent lower. The thermal S10 diesel was reduced by 4.6 percent and the marine diesel by 4.5 percent.

As a result, on Thursday, distributors will be buying R$0.0756 cheaper gasoline and R$0.0917 less for diesel.

According to the FCStone consultancy, the reduction in gasoline and diesel prices was uniform on all delivery bases.

“I believe Petrobras’ changes were focused on yesterday’s gasoline and diesel market. The revision left the window slightly open (opportunity for importers to gain market share) on diesel and zero to zero on gasoline. As the market is reverting into a very strong high today, with the potential for the treatment of coronavirus now, the spot market is now closed. In other words, it has set near the minimum level,” said Tadeu Silva, Oil and Gas consultant at FCStone.

Source: Infomoney

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