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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s oil giant, Petrobras, announced on Friday a reduction in gasoline and diesel prices at its refineries and a new fuel price policy. According to company officials, an executive group will meet at least once a month to review fuel prices.

“This committee will decide whether to make the adjustments of cutting, raising, lowering or maintaining prices," said Pedro Parente during a press conference on Friday to announce the creation of the Executive Markets and Prices Group and the price reduction of gasoline by 3.2 percent . . .

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