Rising Oil Prices Put Petrobras in a Bind

Oil prices reached a yearly peak of $97.69 per barrel this Thursday, the highest rate since last August. In response, Brazil’s state-run oil firm Petrobras faces pressure to adjust fuel prices. According to industry data, Petrobras’ gasoline price is 8% lower than global rates. This difference equals about 27 Brazilian cents per liter. Diesel, the […]

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