Petrobras shares are falling amid rumors of fuel price adjustments in the coming days (Image: REUTERS/Paulo Whitaker)
Even with monetary policy decisions in the United States and Brazil in the market spotlight, Petrobras returned to focus investors' attention this Wednesday (18).
The state-owned company's shares are the most traded on the Brazilian market since the start of trading.
Also, stocks are trading among the biggest drops in the Ibovespa (IBOV). During the first part of the session, Petrobras PN (PETR4) and Petrobras ON (PETR3) fell by more than 2.00%.
At around 3:20 pm (Brasília time), PETR4 was down 1.81%, at R$36.34. Follow in Real Time.
This time, the oil performance is not to blame. The most liquid Brent contracts, a benchmark for the international market, due in November, are trading slightly higher and are holding the price at US$73 per barrel.
The trigger for the negative tone of Petrobras shares are rumors about new adjustments in fuel prices.
According to the newspaper Valor Econômico, the state-owned company is studying reducing fuel prices in the coming days, “in order to align prices more with international prices, which are lower than the company’s”.
Therefore, the price of gasoline would be adjusted by between 5% and 7% and diesel by between 7% and 10%.
The last adjustment was made on July 9, when Petrobras increased the selling price of gasoline by R$0.20 per liter, for the first time this year. With the adjustment, of 7.12%, the selling price of gasoline for distributors became R$3.01 per liter.
According to the report, the announcement should happen this Wednesday (18) after the Central Bank releases its decision on interest rates. The measure would be a sign that, despite the increase in the Selic rate, there is a favorable movement towards falling prices in the economy.
*With information from Valor Econômico and Agência Brasil