Petrobras lowers its domestic diesel prices starting June 1, aligning with a government subsidy plan in Brazil. Bloomberg reports the reduction begins Monday as part of an effort to shield consumers from the impacts of the war in the Middle East. The Rio Times details the size and timing of the change: Petrobras cuts refinery diesel price by R$0.3515 per litre, a 9.59% decrease, taking the price from R$3.65 to R$3.30. The Rio Times attributes the move to the start of a federal fuel support measure. A provisional measure issued May 30 authorizes an economic subsidy of R$1.12 per litre for road-diesel producers and importers. The outlet says the discount is designed to offset the cost effect of the subsidy as it flows through the supply chain. Both sources characterize the price adjustment as a response to a broader policy aimed at reducing the final burden on consumers, with Petrobras implementing the change at the refinery level.
Petrobras cuts diesel prices as Brazil’s federal subsidy begins
Petrobras lowers its domestic diesel prices starting June 1, aligning with a government subsidy plan in Brazil. Bloomberg reports the reduction begins Monday as part of an effort to shield consumers f...
- Petrobras reduces domestic diesel prices starting June 1.
- The diesel cut is R$0.3515 per litre (9.59%), from R$3.65 to R$3.30.
- A provisional measure issued May 30 authorizes an economic subsidy of R$1.12 per litre for road-diesel producers and importers.
- The government subsidy plan is intended to protect consumers from economic pressures linked to the Middle East conflict.
BRAZIL · ENERGY Key Facts —The cut: Petrobras lowered its refinery diesel price by R$0.3515 ($0.07) a litre from June 1, a 9.59% reduction, from R$3.65 ($0.73) to R$3.30 ($0.66). —The subsidy: A provisional measure issued May 30 authorized a R$1.12 ($0.22) per-litre economic subsidy for road-diesel producers and importers. —The offset: The discount neutralizes […] The post Petrobras Cuts Diesel 9.59% as Brazil’s Fuel Subsidy Takes Effect appeared first on The Rio Times.
2 months agoBrazil’s state-controlled oil giant Petroleo Brasileiro SA is reducing domestic diesel prices starting Monday as part of a government subsidy program to shield consumers from the war in the Middle East.
2 months ago
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