RIO DE JANEIRO, BRAZIL – Petrobras announced to distributors that it will reduce the price of gasoline at refineries by 15 percent on average as of Wednesday, March 25th.
This is the tenth time the oil company has lowered the price of fuel this year, and is in line with the drop in oil prices in the international market.
According to the consultancy INTL FCStone, the drop was not constant; in some markets the price per liter was reduced by R$0.20 while in others the reduction was even higher.
So far there is no indication whether local service stations will pass on the reductions at the pumps.