A Petrobras financial mechanism could keep gasoline prices stable for the next 15 days. Called mechanism of hedge, it will be optional and aims to reduce the variation of the price of fuel without affecting the financial result of the state, reports Agência Brasil.
The announcement of the new tool was made by Petrobras CFO Rafael Grisolia and the director of refining and natural gas Jorge Celestino during a press conference. According to executives, the mechanism is the result of an evolution in the pricing of fuels in Brazil and does not change Petrobras’ pricing policy.
With this new mechanism, instead of adjusting prices daily, Petrobras will be able to insure them for a maximum period of 15 days, carrying out financial operations abroad.
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At the end of the period, the adjustment applied will always be equal to the result of the daily variations of the oil barrel and the exchange rate, so that Petrobras maintains parity with prices in the international market.
This text was translated by machine from Brazilian Portuguese.