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Petrobras Adopt Mechanism to Change Frequency of Readjustments in Diesel

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Petrobras’ board approved a complementary protection mechanism “aimed at giving additional flexibility to the management of diesel pricing policy,” similar to what already occurs with gasoline, the company said in a statement on Friday.

“Petrobras believes that it is important to implement mechanisms that allow it, at times of high market volatility, to have the option to change the frequency of daily domestic diesel price readjustments and may even keep it stable for short periods of time, of up to seven days, reconciling its business interests with the demands of its customers and market agents in general, “said the state.

The company said it will have the option to apply the mechanism after the end of the economic subsidy program for the commercialization of diesel oil of the Union, scheduled for December 31.

“The principles of international parity price (PPI), margins for remuneration of the risks inherent to the operation and level of market participation remain in force, as well as the

correlation with the variations of the price of diesel in the international market and the exchange rate, “the state-owned company said.