Corrected: Petrobras removes discount on gasoline after Brazil tax cut

Petroleo Brasileiro SA Petrobras

10/09/2026 24:47

Corrects September 9 story after Petrobras corrected its statement to say the net effect of the move will be a gasoline price drop, and that it is not raising prices
SAO PAULO, Sept 9 (Reuters) - Brazilian state-run oil firm Petrobras PETR3.SA said on Wednesday it is scrapping a discount of 0.44 real ($0.0861) per liter on gasoline.
In a statement, Petrobras said the net effect for distributors will be a reduction of 0.19 real per liter in the perceived price due to government tax cuts.
The government said it will cut federal taxes on gasoline imports and sales by 0.63 real per liter, replacing and expanding a previous cash subsidy of 0.44 real per liter.
The government also announced a diesel subsidy initially set at 1 real per liter, to be added to an existing subsidy.
Petrobras said it will await for the government to publish the legal acts regulating the new diesel subsidy before assessing and implementing it.

($1 = 5.1082 reais)

 (Reporting by Andre Romani, Editing by Natalia Siniawski)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))