Petrobras board to discuss changing fuel pricing policy today -report

A general view of the tanks of Brazil's state-run Petrobras oil company following the announcement of updated fuel prices at at the Brazilian oil company Petrobras in Brasilia, Brazil June 17, 2022. REUTERS/Ueslei Marcelino

SAO PAULO, July 27 (Reuters) - The board of directors of Brazilian state-run oil company Petrobras (PETR4.SA) is set to discuss potential changes to the firm's fuel pricing policy later today, newspaper O Globo reported Wednesday.

According to the report, which cited sources, the board will debate whether to take control of the company's pricing policy from the executive officers.

Petrobras did not immediately respond to a request for comment.

Petroleo Brasileiro SA, as the company is formally known, partially pegs domestic fuel prices to international rates including global oil prices and foreign exchange.

Federal lawmakers and President Jair Bolsonaro, however, have been putting intense pressure on the company's leadership to bring down prices at the pump ahead of an October election.

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Reporting by Gabriel Araujo

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