Energy Independence day: Brazil no longer needs imported gasoline, says Petrobras

In Brazil, Petrobras says that ethanol production has increased to the point where no more gasoline imports will be needed. The company had to bring in 1.5 million barrels of gasoline in April and had thought to bring in 1 million barrels in May to cover fuel needs until the new crop had supplied enough ethanol to the market. Drivers had switched to gasoline after inter-harvest season tightness had pushed ethanol prices too high.