Petrobras defends its pricing policy adopted after the coup, which could push gasoline prices above 8 reais.
Petrobras' statement was a response after CADE (Brazil's antitrust agency) opened an investigation to determine if there was abuse in the recent fuel price increases.
247 - Petrobras defended on Tuesday, the 18th, its pricing policy that dollarizes the value of fuels, most of which are produced in Brazil. In a statement, the company said that the International Parity Policy (PPI), which can lead to gasoline prices exceeding R$ 8, follows the "dynamics of commodity markets in a free competition environment" and is in "compliance with applicable legislation."
The statement was a response after the Administrative Council for Economic Defense (Cade) opened an investigation to determine if there was abuse in the recent fuel price increases by the oil company, which had already implemented an increase earlier this year. "Petrobras will maintain this statement in light of the questions regarding the Cade investigation and the statements made by Minister Bento Albuquerque," the state-owned company said in a statement to [source missing]. CNN.
Brazil's antitrust agency, Cade, is investigating whether Petrobras abused its dominant position in the country's oil market. In a statement, the company says it "reiterates its commitment to competitive pricing practices that are balanced with the market, while avoiding the immediate pass-through of external volatility and exchange rate fluctuations caused by cyclical events to domestic prices."
"It should also be noted that the selling price from Petrobras to distributors is only a portion of the resale price perceived by the consumer at the pumps," he adds.
Professor and researcher Roberto Moraes pointed out on social media that the price of a barrel of oil is close to US$90 and this "will lead to gasoline prices exceeding 8 reais in Brazil under the PPI (Integrated Production Price Index)." "Imagine when it surpasses US$100, as it did between 2011 and 2013," he emphasized.
In 2011 and 2013, the Dilma Rousseff (PT) government kept fuel prices down despite the global economic crisis.
“Investors and shareholders are grateful for the help from the petro-economic cycle, but above all to Parente, Temer and Bozo,” concluded Roberto Moraes. Pedro Parente was the president of Petrobras during the coup government of Michel Temer (MDB), who instituted the International Parity Policy (PPI) deepened by Jair Bolsonaro (PL).
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