Petrobras gains on speculation of Brazilian fuel price increase

|About: Petrobras - Petroleo Brasil... (PBR)|By:, SA News Editor

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.