LatinNews Daily - 20 September 2022

In brief: Petrobras cuts diesel prices in Brazil

* Brazil’s state-controlled oil company, Petrobras, has announced a 5.78% reduction in the price of a litre of diesel for its distributors, which fell from R$5.19 (US$0.96) to R$4.89. According to the company, considering the mandatory blend of 90% diesel A and 10% biodiesel in the diesel sold at the country’s gas stations, Petrobras’s share of the price paid by Brazilian consumers will decline from R$4.67 to R$4.40 per litre. There was no change in the price of petrol. In recent months, President Jair Bolsonaro has pressured Petrobras to reduce fuel prices, considering that the rising cost of living may harm his re-election prospects. In a statement, Petrobras said that the reduction in diesel prices is in line with international market trends.

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