Petrobras cuts fuel prices amid strikes

BRASíLIA, May 24, 2018 – Following three days of strikes by truck drivers in Brazil, NOC Petrobras has temporarily reduced diesel prices by 10%, international media reported Thursday.

“It’s an exceptional measure. It doesn’t mean the company is changing its pricing policy,” Petrobras president Pedro Parente said. “This will give the government 15 days to talk to the truck drivers.”

Though yesterday lawmakers had already sanctioned tax cuts aimed at reducing fuel prices, protests continued, as truck drivers said the targeted taxes only contributed a very small amount to the hikes over the past two years, in which prices have nearly doubled.

Brazilian drivers began protesting earlier this week, blocking key terminals at the Port of Santos and many major interstate highways.

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