September 26, 2023
Petrobras calls Kidd's investigation into fuel prices 'unusual'

Petrobras calls Kidd’s investigation into fuel prices ‘unusual’

Petrobras describes Kidd's investigation into fuel prices as

Photo: Petrobras Agency

Petrobras (photo) said that she considers “abnormal” Investigation opened by Kidd regarding fuel prices in Brazil It states that the Competition Defense Authority is trying, through investigation, to regulate the amounts charged by refineries.

Those statements, according to Fulha, are part of a letter the state-owned company sent to Kidd on the night of Monday 24.

The agency had requested clarification from the company in the scope of the investigation, which was opened on the twelfth, to investigate possible violations committed by Petrobras. ‘Abuse of dominant position’.

The administrative investigation was opened shortly after the announcement of the fuel price increase at refineries two weeks ago. The price of diesel has increased from 3.34 Brazilian riyals to 3.61 Brazilian riyals per liter, and the price of gasoline has increased from 3.09 Brazilian riyals to 3.24 Brazilian riyals per liter.

According to the newspaper, Kidd is skeptical about “high profitability” Petrobras, which will benefit from the fact that it operates far from the main fuel supply markets, which will allow the company to obtain oil at export prices and its derivatives at import prices.

The state-owned company argues that competitive aspects of the fuel market were already discussed in an agreement with Cade in 2019 – which led to its determination to sell part of the state-owned refining complex – and said it does not see the elements that justify the new investigation.

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