LatinNews Daily - 20 July 2022

In brief: Brazil’s Petrobras cuts price of petrol

* Brazil’s state-controlled oil company, Petrobras, has announced a R$0.20 (US$0.03) reduction in the price of a litre of petrol, which now stands at R$3.86. There was no change in the price of diesel. In recent months, President Jair Bolsonaro has repeatedly piled pressure on Petrobras to lower fuel prices, viewing the rising cost of living as potentially fatal to his prospects of re-election in October. A Petrobras statement said that the price reduction follows a stabilisation in international oil markets.

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