Brazil s Petrobras lowers fuel prices even as oil rises internationally
4/30/2021
Brazilian oil company Petrobras will reduce diesel and gasoline prices at refineries by about 5 cents per liter from Saturday, the Brazilian Association of Fuel Importers (Abicom) and consultancy and brokerage StoneX said.
The move would be the first under the management of General Joaquim Silva e Luna, who replaced Roberto Castello Branco as the company s top executive after the government apparently disagreed with the state-run company s fuel pricing policy.
Petrobras did not immediately comment on the matter.
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.
Brazil s Petrobras lowers fuel prices even as oil rises internationally
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Brazil s Petrobras lowers fuel prices even as oil rises internationally
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Oil Theft Is A Major Problem In Latin America Washington’s focus on disrupting narco-trafficking in Latin America, through a combination of coca crop eradication, enforcement and seizures is placing pressure on criminal organizations to find other sources of income. This has seen criminal organizations and non-state armed groups at all levels across the region move to generate much-needed revenue from less hazardous ventures.
One illicit activity, which has exploded in popularity in Latin America since the start of the COVID-19 pandemic is the theft of crude oil and derivative products such as gasoline. The pandemic has exacerbated many of the structural weaknesses that exist in the region, notably fiscally weak governments, entrenched poverty, ingrained inequality and high degrees of lawlessness. That has precipitated a sharp increase in crime across Latin America, which many regional governments are struggling to contain. The proliferation of oil theft is aided by
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