Petrobras gains on speculation of Brazilian fuel price increase

Petrobras (PBR +1.8%) bucks today's broader downtrend after CEO Maria das Gracas Foster expresses optimism for an increase in Brazilian fuel prices.

PBR is planning a new price adjustment policy to stem losses from fuel imports, Brazilian newspaper O Globo reported yesterday, citing an interview with Foster, who said that she is working for it to happen.

“Investors are optimistic that the long-awaited increase is very close,” says the top analyst at the SLW Corretora brokerage firm.

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Comments (1)
  • Caiman Valores
    , contributor
    Comments (2068) | Send Message
    Any increase in gasoline prices is a win win for Petrobras. It also indicates that the Brazilian government is finally recognizing that to at least some level it needs to take into account the rights of private shareholders. Especially if Petrobras is going to provide the kind of revenue that the government needs.
    30 Sep 2013, 09:49 PM Reply Like
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