Brazilian diesel subsidy program threatens Petrobras, market -FCStone [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Reuters
Brazilian diesel subsidy program threatens Petrobras, market -FCStone | Reuters 1 Min Read RIO DE JANEIRO, Sept 18 (Reuters) - Brazil could face a diesel shortage at the end of this year or state-controlled oil company Petroleo Brasileiro may be forced to eat losses on fuel sales thanks to a faulty diesel subsidy program, analyst and broker INTL FCStone said on Tuesday. The program, unveiled a few months ago to halt a truckers’ strike over rising diesel prices, set prices too low and has yet to pay out compensation to most diesel importers, FCStone said in a statement. That means most companies have stopped selling the fuel, forcing Petrobras to supply most of the market at a loss and raising the specter of a shortage in the coming months, the commodity broker added. (Reporting by Alexandra Alper Editing by Paul Simao) All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved. Brazilian diesel subsidy
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