RIO DE JANEIRO, BRAZIL – Petrobras cut gasoline prices from its refineries by 9.5 percent and diesel prices by 6.5 percent after the sharp drop in crude oil prices worldwide.
The drop follows the sharp reduction in the commodity’s price on the international market.
Petrobras cuts gasoline prices by 9.5 percent and diesel prices by 6.5 percent after the sharp drop in crude oil.
Petrobras (PETR3;PETR4) reported on Thursday, March 12th, that it has reduced the price of gasoline by 9.5 percent, or R$0.1600 a liter, and diesel by 6.5 percent, at R$0.1250 a liter in all markets. The drop follows the sharp reduction in the price of oil on the international market.
Since the start of the year, the commodity has been dropping in price because of the Covid-19 coronavirus, which is threatening global economic growth, and has changed levels in recent days due to a tug-of-war between Russia and Saudi Arabia over the volume of oil available in the market.
On Thursday, the a barrel of Brent Crude oil was costing around US$33, after opening March at approximately US$50.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$167.55B
Market cap
Analyst target $24.09
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $24.09 · +30% vs 200-day
Valuation & profitability
Market cap$167.55B
Revenue (TTM)$548.49B
P / E ratio6.6
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.6552-wk high $26.10
Beta (volatility)-0.23
200-day average$18.47
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.3%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield14.5%
Payout ratio28.3%
Fwd. annual$1.43
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…
