March 11, 2022 |
Shares in Brazil's Petrobras rose after the company announced a double-digit fuel price hike on Thursday, allaying market concern over possible government interference in the state-controlled oil company's pricing policies or even a possible price freeze.
"We do not control prices," Ricardo Besada, executive finance manager at Petrobras, said at the Latin America Capital Markets Summit, hosted by LatinFinance on Thursday.
Petrobras had announced earlier in the day increases of 18.8% for gasoline
Brazilian state-owned oil company raises prices as oil surges and puts focus on reducing debt and trying to sell more refineries