Petrobras Raises Gasoline Price by R$ 0.48/liter

● As widely expected, Petrobras announced an increase in its gasoline price at refineries of R$ 0.48/liter, effective tomorrow (May 29).

● This price revision comes three days after the Brazilian government’s decision to subsidize gasoline prices for producers and importers by R$ 0.44/liter.

● As a result, the net increase in gasoline prices will be only R$ 0.04/liter.

● Nevertheless, according to DATAGRO, the gasoline price at Petrobras refineries will still remain approximately 27% below import parity.

● Diesel prices were not revised at this time.