Petrobras Limits Diesel Sales as Brazil Prices Lag Global Market [Yahoo! Finance]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
Brazil's state-run oil company Petróleo Brasileiro S.A. - Petrobras PBR has reportedly refused requests from fuel distributors seeking additional diesel volumes, citing a widening price gap between domestic and global markets. According to industry sources, the company is currently supplying only the contractually agreed quantities to distributors and declining extra orders. The move comes as diesel sold domestically trades at a steep discount compared with imported fuel, creating a strong incentive for distributors to stockpile cheaper supplies. Petrobras is attempting to prevent speculative buying that could allow distributors to profit once domestic prices are adjusted. Domestic Prices Deeply Discounted The pricing imbalance has become increasingly pronounced. Industry data shows that diesel sold by Petrobras is currently about 85% cheaper than imported cargoes as global fuel prices surge amid geopolitical tensions, particularly the U.S.-Iran conflict in the Middle East. This
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