President Luiz Inacio Lula da Silva has never interfered in way Brazil’s state-controlled oil producer Petrobras adjusts politically sensitive fuel prices, Chief Executive Officer Jean Paul Prates told Bloomberg.
Petrobras is currently selling gasoline and diesel below international levels after oil’s recent rally. Prates, in a brief telephone interview, said Petrobras takes profitability and corporate governance into account when setting fuel prices. The company has a policy of periodic adjustments, while also shielding consumers from short-term volatility in oil prices and the exchange rate.
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