RIO DE JANEIRO, April 30 (Reuters) - Brazil's Petrobras will
reduce diesel and gasoline prices at refineries by about 2% on
Saturday, the state-run oil company said on Friday, the first
fuel price adjustment since Chief Executive Joaquim Silva e Luna
formally took charge.
The former army general replaced Roberto Castello Branco as
the company's top executive earlier in April after the
government apparently disagreed with the company's fuel pricing
The cut came even as some experts pointed to evidence of
further price pressures from increasing international oil
In a note on Friday, brokerage Ativa Investimentos said its
model indicated a potential 13% rise in gasoline prices.
But Petrobras said average diesel prices would fall 6 cents
per liter to 2.71 reais, while gasoline prices would fall 5
cents per liter to 2.59 reais.
After landing the top job at Petrobras, Luna said he would
look to avoid volatility in the domestic fuel market while not
"disrespecting" international price parity.
Asked about Ativa's projection on Friday, Petrobras declined
specific comment but said its prices "seek equilibrium with the
international market and follow the variations in to price of
the products and the exchange rate."
The Brazilian real has jumped about 4% versus the U.S.
dollar over the past month.
(Reporting by Marta Nogueira in Rio de Janeiro
Writing by Ana Mano and Gram Slattery
Editing by Louise Heavens and Matthew Lewis)