Brazil’s Petrobras to postpone value hike till after tax lower vote -sources By Reuters

© Reuters. FILE PHOTO: A brand of Brazil’s state-run Petrobras oil firm is seen at its headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File Photograph

By Rodrigo Viga Gaier

RIO DE JANEIRO (Reuters) -Brazilian state-run oil firm Petrobras will keep away from elevating gasoline costs till after Congress finishes debating additional tax cuts, two sources near the matter advised Reuters on Tuesday.

This comes after the agency’s administration advised the federal government on Monday that diesel and gasoline costs within the nation are lagging behind worldwide markets.

Diesel costs, which the corporate elevated in Could, have been 15% under worldwide markets, whereas gasoline costs have been greater than 20% decrease than the import parity value.

The ultimate choice relies on components like oil costs and the trade price, “however the concept is to carry,” mentioned one of many sources on the situation of anonymity.

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