Petrobras revises timing of price adjustments for diesel and gasoline

FILE PHOTO: The logo of Brazil’s state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo Whitaker/File Photo

SAO PAULO (Reuters) – Brazilian state-run oil company Petroleo Brasileiro SA said on Wednesday that its management approved a revision in scheduling of price adjustments for diesel and gasoline in its refineries.

In a securities filing, the company said price adjustments will be made according to market conditions locally and abroad, instead of being made at fixed intervals. The revision will grant Petrobras flexibility, improving its competitiveness and efficiency, the company added.

Reporting by Gabriela Mello; Editing by Leslie Adler

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