SÃO PAULO, BRAZIL – Petrobras CEO Roberto Castello Branco announced an increase of R$0.10 per liter of diesel at refineries. The 4.84 percent increase is lower than the 5.7 percent the company announced and then suspended last week.
Petrobras CEO, Roberto Castello Branco, announces diesel price hike during press conference, photo by Fernando Frazão/Agencia Brasil.
According to Castello Branco, the company’s pricing policy will continue to follow the variation of the diesel fuel in the international market. “We continue to strictly observe the maintenance of prices in line with international parity. This is and will continue to be our policy,” said the CEO during the press conference.
Castello Branco said that a price increase of R$0.10 will be applied at the refineries, but that the increase should not be passed on in full to the final consumer.
“The expectation is that the variation in the pump will be of less than R$0.10,” he said.
Branco said that Petrobras will continue to determine fuel prices. “The final word is mine,” he stated.
Regarding the rumors that he had been pressured by President Jair Bolsonaro not to increase diesel prices, Castello Branco was emphatic: “There was no interference, however small.”
According to Branco, Bolsonaro only alerted him about the potential for a new truckers’ strike.
“We all suffered as a result of the trucker’s strike,” he said. But he also stated that he considers the risk of a new truckers’ strike to be low.
Hours after the announcement, several local media outlets were reporting that a WhatsApp group of independent truckers was already calling for a strike in May.
Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$165.36B
Market cap
Analyst target $23.95
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $23.95 · +28% vs 200-day
Valuation & profitability
Market cap$165.36B
Revenue (TTM)$548.49B
P / E ratio6.5
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.7852-wk high $26.12
Beta (volatility)-0.23
200-day average$18.74
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.3%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield14.3%
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…
