Petrobras announces another R$0.15 cut in gasoline price in Brazil

It’s only been a month since Paes de Andrade took the reins of ‘almighty’ Petrobras, Brazil’s largest oil company, as its fourth president in the current government, and already the company is cutting gasoline prices for the second time, providing relief to the financially strapped Brazilian population.

Bolsonaro’s persistence regarding Paes de Andrade’s defiant predecessors (whom he all fired) has paid off for the good of the people; greed and indifference within the Rio de Janeiro-based company have given way to an awareness that it is time to exercise social responsibility if you don’t want to have another Panama.

Traders will buy fuel for R$3.71 starting Friday; state-owned company’s share of consumer price expected to drop by R$0.11

Petrobras announced Thursday (28) a new gasoline price reduction. Dealers will buy the liter for R$3.71 starting Friday (29).

The reduction is 3.9% compared to the current R$ 3.86 per liter price.

The 1st reduction was announced a week ago, on July 19, when the price was reduced by R$0.20 per liter at refineries.

According to the state-owned company, the reduction “follows the evolution of reference prices, which have stabilized at a lower level for gasoline.”

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