Petroleo Brasileiro Stock News

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Brazil’s congress passed a tax reduction for fuels hours after state-controlled oil producer Petroleo Brasileiro SA caused a stir by increasing diesel and gasoline prices by as much as 25%.

Brazil''s Petrobras has increased the price of refined gasoline and diesel for distributors as of March 11. The average price has gone up to R$3.86 (US$ 0.77) for regular fuel and R$4.51 (US$ 0.9) for diesel.

BRASILIA (Reuters) - Brazil''s Senate approved on Thursday two bills aimed at curbing fuel price hikes with subsidies and tax exemptions, a positive move potentially for state-run oil company Petrobras

RIO DE JANEIRO, BRAZIL - Even with the increase, the estimated lag in gasoline prices remains at 20%, compared to 31.6% previously; in diesel, it is around 19%, compared to 34.1%. On . . . To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here Subscribe Login […] The post Brazil: Petrobras raised gasoline prices by 18% and diesel by 25% appeared first on The Rio Times .

Brazil''s Senate approved on Thursday two bills aimed at curbing fuel price hikes with subsidies and tax exemptions, a positive move potentially for state-run oil company Petrobras but one that could add stress to the government''s stretched finances.

Brazil''s Economy Ministry has argued that state-run oil company Petrobras should remove import-related costs from its fuel price calculation, two ministry sources told Reuters, as part of a debate about how to address soaring energy costs.

Petrobras announces strong fuel hike despite Bolsonaro opposition

RIO DE JANEIRO, March 10, 2022 (AFP) – Brazilian state-run oil company Petrobras announced hefty increases in gasoline and diesel prices Thursday in response to the Ukraine crisis, ignoring President Jair Bolsonaro’s criticism of what he calls excessive prices. Petrobras said it would raise the price of gasoline from its refineries by 18.8 percent and diesel […] The post Brazil’s Petrobras hikes prices, ignoring Bolsonaro appeared first on BOL News .

Brazil’s state-controlled oil company Petroleo Brasileiro SA raised domestic fuel prices in an encouraging sign for investors who are concerned about a return to subsidies to contain inflation. Shares rallied.

Petrobras <> says it will raise fuel prices at the refinery gate starting Friday, amid surging global oil prices in the wake of Russia''s invasion of Ukraine.In its first fuel…

Petrobras announces 18.8% increase in gasoline prices in Brazil

LONDON: Raw sugar futures on ICE rallied on Thursday after Brazilian state-run oil company Petrobras said it will raise fuel prices starting on Friday as global oil quotes have surged following Russia''s invasion of Ukraine. High energy prices tend to prompt cane mills in Brazil to divert output from sugar to ethanol, a cane-based biofuel. Sugar May raw sugar was up 2.8% to 19.59 cents per lb at 1333 GMT. Oil prices rebounded on Thursday after the United Arab Emirates backtracked on statements saying that OPEC and its allies might increase output to help plug the gap in exports from Russia. Keeping sugar''s gains in check, Indian sugar mills signed contracts to export 550,000 tonnes of the sweetener in recent days amid surging global prices and a weak rupee, four dealers told Reuters. Dealers said while sugar prices will be driven by oil and other macro economic factors, the sweetener will struggle to improve too much given India is set to ship more than 6 million tonnes of sugar this season.

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ONEW, TPH, and PBR made it to the Zacks Rank #1 (Strong Buy) value stocks list on March 10, 2022.