SAO PAULO/RIO DE JANEIRO – The chief executive of Brazilian state-run oil firm Petrobras (NYSE: PBR) told Brazilian President Luiz Inacio Lula da Silva during a meeting on Monday that the company will adjust diesel prices, newspaper Folha de S. Paulo reported.
CEO Magda Chambriard told Lula the percentage of the adjustment was still being calculated, Folha reported without naming sources, adding the price change is expected to happen in the next few weeks.
Petrobras did not immediately reply to a request for comment.
The newspaper was not clear on whether the move would raise diesel prices or reduce them. Analysts have said Petrobras fuel prices are lower than current international prices.
