Brazilian state oil company Petrobras announced Friday it will slash domestic gasoline and diesel prices to bring them in line with world markets, promising greater "transparency" after a devastating corruption scandal. The new market-based pricing policy comes after the company was criticised for keeping gasoline and diesel relatively expensive in Brazil even though global oil prices have plunged by about half in the past two years. The policy "will undoubtedly bring greater transparency and be well received by both the market and consumers," chief executive Pedro Parente told a press conference.
Comments
Comments are closed.