Brazil's Petrobras to cut LPG prices by nearly 10%

A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro
A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes

RIO DE JANEIRO, Dec 7 (Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) said on Wednesday it will cut liquefied petroleum gas (LPG) prices for distributors by an average 9.8% starting Thursday.

According to a statement, the firm's LPG prices will drop to 3.2337 reais ($0.62) per kilogram from 3.5837 reais/kg.

Petroleo Brasileiro SA, as the company is formally known, had already announced on Tuesday it was cutting diesel and gasoline prices at its refineries.

($1 = 5.2115 reais)

Reporting by Marta Nogueira

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