Bloomberg News

Petrobras Seeks to Adjust Gasoline Prices, Foster Tells Estado

February 26, 2012

Petroleo Brasileiro SA (PETR4), Brazil’s state-controlled oil company, seeks to boost fuel prices to compensate for recent oil price hikes in the international market, O Estado de S. Paulo reported, citing Chief Executive Officer Maria das Gracas Foster.

Petrobras needs to adjust fuel prices in Brazil to the higher cost of oil in the past six months, the executive told the newspaper in an interview, without saying when the increase would take place. Fighting inflation is not a duty of the Rio de Janeiro-based company, she said, according to Estado.

To contact the reporter on this story: Juan Pablo Spinetto in Rio de Janeiro at jspinetto@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net


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