Petrobras Raises Diesel Price Following Brazil Fuel Tax Break
Storage tanks at a Petrobras refinery in Duque de Caxias, Rio de Janeiro state, Brazil.
Photographer: Dado Galdieri/BloombergBrazil’s state-controlled oil giant Petroleo Brasileiro SA raised domestic diesel prices just a day after the Brazilian government announced federal tax breaks on fuels to shield consumers from surging crude prices.
After holding diesel prices since a reduction in May, Petrobras announced a increase for distributors to 3.65 reais (69 cents) a liter from March 14, the company said Friday. Gasoline prices were left unchanged.