Petrobras cuts gasoline prices 12%, second cut in two weeks

March 18, 2020 |

In Brazil, Reuters reports that for the second time in two weeks, Petrobras has cut gasoline prices in line with falling oil prices globally. The cut announced Wednesday is 12% while last week saw a first cut of 9.5%. Brazilian sugar mills have been benefiting from record high prices for ethanol thanks to high gasoline prices and low supplies during the inter-harvest period but that will now come to a stop as drivers switch back to cheaper gasoline.

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Category: Fuels

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