Petrobras will reveal its new fuel pricing policy on Tuesday and import parity (PPI) will not be the basis of the criteria for the company to make petrol and diesel adjustments, two sources familiar with the matter told Reuters.
One of the sources said the new policy could be made known at “any time” and highlighted that international price will continue to be “an important reference”, but not “import parity”.
The information lines up with information released by CNN Brasil, which reported on Monday evening that Petrobras is expected to end its import parity-based pricing policy, citing two sources familiar with the matter. The broadcaster also said a statement with the information would be released on Tuesday.
Petrobras said in a statement on Sunday that it was internally discussing changes to its pricing policies for diesel and gasoline. In a results conference call last week, company management said there would be an announcement on the matter this week.
The source said the new pricing policy should provide more stability and spacing between readjustments.
“Petrobras has operating conditions that allow it to smooth out speculative swings or any swings during the periods without affecting its average profitability,” said one of the sources, who remained anonymous.
When asked about the frequency of the readjustments, the source avoided going into details, but said the aim is to “smooth volatility as much as possible”.
When asked if the PPI will end, the source said that international parity will not be the only mandatory reference.
“Because you can’t fix the price of a company by forcing itself to charge the price of its competitor who has worse conditions than yours”, he continued, in line with what the new management of the company declared he wanted to do.
When contacted, Petrobras did not immediately comment on the matter.
Source: Terra
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