Brazil’s Petrobras to hike diesel prices by 6%

13 July 2012 19:42  [Source: ICIS news]

HOUSTON (ICIS)--Petrobras will increase its diesel price by 6%, effective on 16 July, the Brazilian energy major said on Friday.

The increase is part of Petrobras’ policy to align Brazil domestic oil-product prices with international market prices over the medium and long term, it said.

Petrobras said the price to which the adjustment applies does not include Brazilian federal taxes and state taxes. The final price at the pumps, which also includes biodiesel costs and distribution and sales margins, is expected to increase by around 4%, it added.

The company did not disclose what its current diesel price is in absolute terms per litre or gallon.

Petrobras' 2012 first-quarter domestic gasoline and diesel sales increased by 10% year on year, ICIS reported.

By: Stefan Baumgarten
+1 713 525 2653

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