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Cheapest petrol

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Petrobras admits price lower in three to four months


BRASILIA - The president of Petrobras, José Sergio Gabrielli, said that the company may cut prices of petrol and diesel, in three or four months, but insisted that the drop is tied to stability in prices of a barrel of oil and the exchange in current levels in this period.

Gabrielli made the statements in an interview with 'TV Brasil', broadcast last night. The president of Petrobras said that the maintenance of oil in the range of $ 40 is not enough for the drop in prices of petrol and diesel. "Not only the question of the price of a barrel of oil being below or above the $ 40. Also, note that the price of petrol and, essentially, the exchange rate in three months, "said Gabrielli. "If these three factors remain today, probably in three to four months, prices of petrol and diesel will have to adjust in the Brazilian market," he added.

According to Gabrielli, there is no way off, in a situation of stability, the Brazilian market of international price and exchange. On May 2, 2008, after almost three years without adjustment, the prices of petrol and diesel rose 10% and 15% respectively. At the time, the price of a barrel of oil in foreign markets were in the range of $ 140.

Oil prices closed at a low in New York and London after the U.S. government announced high inventories of oil. In the NYMEX (New York Mercantile Exchange), a barrel for delivery in April lost U.S. $ 3.38, to $ 42.33.

In Exchange of London, a barrel of Brent North Sea with the same salary retreated U.S. $ 2.56, quoted at U.S. $ 41.40. In the U.S., the stocks of crude oil rose by 700 thousand barrels, and stocks of distillates rose by 21 million products. Only the stocks of gasoline fell, with roughly 3 million barrels, exceeding forecasts of analysts.

MEETING OF OPEC

Investors are waiting for the meeting of the OPEC (Organization of Petroleum Exporting Countries), next Sunday. After focusing so far on a reduction of current assessments, the course took over the market. "Before the meeting of ministers, there were discussions in the last two weeks about the need to respect the agreed reductions, because of the improvement recorded by the market," explained yesterday Mike Fitzpatrick, an analyst at MF Global.

 



Source: The Day

This article was translated by an automatic translation system, and was therefore not reviewed by people.

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