Oil giant states it will avoid passing on “external volatilities”
05/03/2022
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Petrobras confirmed that it will maintain its commitment to keep fuel prices in Brazil in line with the international market — Foto: Divulgação
Petrobras confirmed that it will maintain its commitment to keep fuel prices in Brazil in line with the international market. In a statement after being asked about possible readjustments with the rise in the barrel prices due to the crisis in Eastern Europe in recent days, the oil company, however, noted that it will avoid passing on external volatility and the exchange rate caused by broader events.
“The international market was already experiencing high volatility, and the latest events have caused even more volatility. Petrobras continues to monitor and evaluate the impacts on fuel prices and cannot anticipate any decision on adjusting or maintaining current prices,” stated the company.
The company pointed out that the national fuel market is also supplied by other companies, such as importers, distributors that are authorized to import, in addition to other producers and importers of biofuels and other refiners. As a comparison, Petrobras points out that in 2021 the company met about 44% of the demand for type A gasoline from distributors, with the rest being produced or imported by other players.
The state-owned company has not updated fuel prices at refineries for 49 days, despite the recent rise in barrel prices on the international market after the Russian invasion of Ukraine.
Source: Valor International