According to Reuters article published on May 12, 2023, Brazilian state-run oil firm Petrobras could announce an adjustment in motor fuel prices next week, the company's top executive said on Friday, at a time when international crude oil benchmarks have edged down in recent months.
"There is a chance of a readjustment next week for some fuels, but I'm not going to give a spoiler," Petrobras CEO Jean Paul Prates told reporters at a press conference following the release of the Brazilian oil giant's first quarter results.
To price its fuels, Prates explained that Petrobras will continue to follow international market prices and will also take into account domestic competitiveness considerations.
He stressed that the company will not lose sales as it seeks to establish the most attractive prices for Brazilian motorists.
Prates also shrugged off the possibility of returning to an earlier policy of setting fuel prices for the entire year with no adjustments, pointing to fixed year-long prices in 2006 and 2007 as examples to avoid.
"We also don't need to live the marathon of 118 readjustments for just one fuel in 2017," said Prates, which he blamed for leading to a crisis culminating in a highly-disruptive truck drivers strike.
Separately, the chief executive said the company will respect the decision of environmental agency Ibama on his oil company's request to drill a test well near the mouth of the Amazon River Basin.
Last month, an Ibama technical report recommended rejecting the planned well, but a final decision is yet to be made.
