• Petrobras announced a 4% decrease in gasoline prices last week, adding to a 5% decrease.
• Perhaps diesel (prices),” Bolsonaro said in an interview with radio station Guaiba.
• The firm bases its domestic fuel pricing on international rates such as global oil prices and foreign exchange.

Brazilian President Jair Bolsonaro said on Tuesday that a recent decline in Brent oil prices may prompt state-run Petrobras (PETR4.SA) to slash refinery gate fuel prices again, following two price cuts announced by the firm in July.

“Yesterday Brent fell below $100 per barrel, a signal that Petrobras can again cut fuel prices. Perhaps diesel (prices),” Bolsonaro said in an interview with radio station Guaiba.

Brent oil prices fell to a session low of $99.09 a barrel on Monday as weak manufacturing data from numerous countries weighed on demand expectations. more info

Petroleo Brasileiro SA, or Petrobras, announced a 4% decrease in gasoline prices last week, adding to a 5% decrease earlier in the month and bringing prices to their lowest level since March.

Petrobras, which bases its domestic fuel pricing on international rates such as global oil prices and foreign exchange, stated at the time that the drop was necessary because international benchmark prices for gasoline had “settled at a lower level.”

Diesel rates at its refineries, that we kept unchanged  at a mentioned level in June

Bolsonaro and its lawmakers put immense pressure on the firm to bring prices back because of inflation and the general election ahead in October.

“That’s no crystal ball,” Bolsonaro said about expecting a fresh cut on fuel prices. “If the dollar falls (against the Brazilian real), they will also fall”.

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