Petrobras Cuts Diesel 9.59% as Brazil’s Fuel Subsidy Takes Effect

BRAZIL · ENERGY Key Facts —The cut: Petrobras lowered its refinery diesel price by R$0.3515 ($0.07) a litre from June 1, a 9.59% reduction, from R$3.65 ($0.73) to R$3.30 ($0.66). —The subsidy: A provisional measure issued May 30 authorized a R$1.12 ($0.22) per-litre economic subsidy for road-diesel producers and importers. —The offset: The discount neutralizes […] The post Petrobras Cuts Diesel 9.59% as Brazil’s Fuel Subsidy Takes Effect appeared first on The Rio Times .