Petroleo Brasileiro SA's market-based diesel pricing policy remains unchang...
BRASILIA - Petroleo Brasileiro SA’s market-based diesel pricing policy remains unchanged and Brazil’s president has no intention of meddling in Petrobras’ internal affairs, high-ranking government officials said on Tuesday.
The episode underscored the leverage of truckers in Brazil, which relies overwhelmingly on road freight to get agricultural exports to port and keep its economy humming. It left investors doubting the liberal bona fides of Bolsonaro’s government, which has decried state interventionism under some of its predecessors.
Petrobras on Tuesday announced in a daily filing that it would not adjust the price of gasoline or diesel at refineries for Wednesday. It made the announcement shortly after the end of a news conference in Brasilia where government officials announced measures designed to avoid a threatened truckers’ strike.
A truckers’ strike over high diesel prices last year paralyzed Brazil’s economy for weeks, led to the departure of the then-CEO at Petrobras and handicapped an already unpopular government.Brazilian government says Petrobras is free to set fuel prices without interference
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