Brazil’s Petrobras Announces Hikes in Fuel Prices

The increases in gasoline and diesel prices are part of Petrobras' new fuel price policy to maintain international price parity in the domestic market.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s oil giant, Petrobras, announced on Monday (December 5th) night, it was increasing the prices of gasoline and diesel at its refineries. The increase, scheduled to take effect on Tuesday, December 6th, will be of 9.5 percent for diesel and 8.1 percent for gasoline.

“The main variables that explain the executive group's decision are the noted increase in oil and oil product prices and the recent devaluation of the exchange rate,” said the Subscribe to our Premium Membership Plan. Already Subscribed?