Market Chatter: Petrobras CEO Says Monitoring Oil Prices Amid Holding Retail Fuel Costs in Brazil

MT Newswires Live03-10

Petroleo Brasileiro (PBR) is holding off on raising fuel prices in Brazil, even though global oil prices have surged due to the US-Israeli war with Iran, Bloomberg News reported Monday, citing Petrobras Chief Executive Magda Chambriard's interview with the media outlet.

She said the company wants to wait and see how long oil prices stay high before deciding whether to pass higher costs on to consumers, the report added.

Chambriard added that there has been no political pressure so far to keep prices low, the report said.

Petrobras didn't immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 18.27, Change: +0.66, Percent Change: +3.78

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