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Petrobras cuts by 6.3 percent industrial LPG prices




By Reuters

Petroleumworld 01 22 2018

Brazilian state-controlled oil company Petroleo Brasileiro SA said on Friday it would cut liquefied petroleum gas (LPG) prices for industrial use by 6.3 percent following a similar cut for residential prices earlier this week.

The change, which will take effect on Saturday, is “necessary because of a fall in international prices, since demand during the European winter has been lower than the market expected,” Petrobras said.

On Thursday, Petrobras announced cuts to prices to distributors for LPG sold in cylinders up to 13 kg by 5 percent, after prices for the gas, used widely by Brazilians for cooking, jumped by nearly 70 percent since June.

Reporting by José Roberto Gomes from Reuters. 01 19 2017

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