Brazil oil regulator rules out norms for fuel pricing frequency [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Reuters
Brazil oil regulator rules out norms for fuel pricing frequency | Reuters Reuters Staff 2 Min Read RIO DE JANEIRO (Reuters) - Brazil’s oil regulator ANP said on Thursday it would not establish a minimum frequency for fuel price adjustments, after a nationwide truckers’ protest over rising diesel prices in May cast a spotlight on the issue. The protests paralyzed Latin America’s largest economy and forced the government to lower diesel prices through tax cuts and subsidies. They also prompted ANP to launch a public consultation from June 11 to July 2, on a potential rule that could set limits on how often fuel prices change in the country. But Decio Oddone, ANP’s chief, ruled out such a move on Thursday, instead promising that the agency would approve a resolution that would bring more transparency to the fuel sector. The resolution, which will also lay out rules about the timing of information on price changes, will be put to a public consultation in around 30 days and could go into e
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