OIL AND GAS
Petrobras holds firm on fuel prices. The market is moving anyway
Petrobras leadership is in no hurry to raise prices. Photo: AG.P
Petrobras has adopted a wait-and-see approach to the war in the Middle East. Shipments through the Strait of Hormuz — responsible for roughly 20% of global supply — have ground to a near complete halt amid threats of Iranian attacks, pushing global prices to levels unseen since Russia's invasion of Ukraine in 2022. But Brazil's state-controlled oil giant says it won't be rushed into changing fuel prices.
According to the Brazilian Association of Fuel Importers (Abicom), Petrobras's diesel prices as of Friday were BRL 1.90 per liter below the import parity price — a gap of roughly…
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