Petrobras Urged by Lula to Cut Fuel Brokers Who ‘Rob' Consumers [BNN Bloomberg (Canada)]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
Company Research
Source: BNN Bloomberg
The President's popularity hit an all-time low this month as his administration became embroiled in crises and Brazilians grew frustrated with rising prices. Petroleo Brasileiro SA, as the company is formally known, is constantly under government pressure to shield consumers from volatility in the oil markets, while private investors fear the company would sacrifice profits to subsidize politically sensitive motor fuels as it has done in the past. Last month, Petrobras raised diesel prices for the first time since October 2023 to reduce a gap with international markets. The 79-year-old leftist leader blamed gas stations and state taxes for charging much higher prices compared to Petrobras's at the refinery gate. “In the end, the people are robbed by the inte
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