We are “sensitive to price impacts on society”, says Petrobras after readjustments

Petrobras said this Friday (18) that it “is sensitive” to the impacts of fuel price increases on society.

“Petrobras is sensitive to the impacts of prices on society and maintains daily monitoring of the market at this challenging and high volatility moment, not being able to anticipate decisions on maintenance or price adjustments,” the company said in a note.

Last week, the oil company announced an 18% increase in the price of gasoline, 25% for diesel and 7.2% for cooking gas.

The state-owned company also reiterated that the readjustment decisions follow the international market, with an increase in demand for fuel in the world and the uncertainties arising from Covid-19 and the war in Eastern Europe.

He also says that, at first, he decided not to pass on the soaring international prices, when evaluating the market situation. However, the scenario changed in March.

“The amounts applied at that time, although relevant, only reflected part of the rise in international levels of oil prices, which were strongly impacted by the limited supply in the face of world demand for energy”, he said.

The company also stressed that it cannot anticipate changes in fuels, in addition to reinforcing the importance of prices in Brazil remaining in line with the global market “to ensure normal supply and mitigate risks of product shortages”.

“We continue in an environment of great uncertainty, with an increase in the demand for fuel in the world, at a time when the unfolding of the war between Russia and Ukraine has an impact on supply, generating competition in the world for the supply of products, which reinforces the importance that prices in Brazil remain aligned with the global market to ensure normal supply and mitigate risks of product shortages”.