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Petrobras slides after cutting prices for gasoline, cooking gas (NYSE:PBR) - Seeking Alpha

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Petrobras slides after cutting prices for gasoline, cooking gas (NYSE:PBR) | Seeking Alpha

Petrobras slides after cutting prices for gasoline, cooking gas
Jun. 30, 2023 5:15 PM ET Petróleo Brasileiro S.A. - Petrobras (PBR) By: Carl Surran, SA News Editor 8 Comments Joa_Souza/iStock Unreleased via Getty Images

Petrobras (NYSE: PBR) closed -3.5% in Friday's trading after reporting it is reducing the prices of gasoline and cooking gas sold to distributors in Brazil.

The company said gasoline prices will be lowered by 5.3% on average to 2.52 reais/liter ($0.52) and liquefied petroleum gas prices will be reduced by 3.9% on average to 2.43 reais/kg.

Petrobras ( PBR) said it is seeking to maintain its price competitiveness and the necessary market share for optimizing refining assets in relation to national and international markets.

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