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Shares of Petrobras fall after report on fuel price policy
November 26, 2013 / 12:15 PM / 4 years ago

Shares of Petrobras fall after report on fuel price policy

SAO PAULO, Nov 26 (Reuters) - Preferred shares of Brazilian state-run oil company Petrobras fell their most in nearly two weeks on Tuesday after a report that President Dilma Rousseff was reluctant to sign off on a new fuel price policy this year that would automatically raise gasoline prices along with inflation.

The company, formally known as Petroleo Brasileiro SA , has been forced to import fuel and sell gasoline at a loss due to prices that are kept below international market rates to control consumer prices.

At 10:06 a.m. (1206 GMT), Petrobras shares were down 2.6 percent to 19.83 reais.

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