Prates says that Petrobras sees no reason to change fuel prices: 'There is no reason to panic'

Petrobras monitors market conditions and for now sees no reason to change fuel prices, said the company's executive president, Jean Paul Prates, in an interview with journalists this Thursday.

“We are evaluating all market conditions. There is no reason for any panic now,” he said, after participating in an event in Rio de Janeiro.

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“We are evaluating the international scenario and, for now, there is nothing that makes us move (prices), and the price of oil itself indicates this”, he added.

The price of Brent oil, a global reference, closed above 90 dollars a barrel on some days last week.

The day before, Brent fell, closing just above 87 dollars, the trading level this Thursday.

But Brent registered greater volatility throughout April, reaching a closing high since October last year on the 5th, at $91.17, amid concerns about a conflict between Israel and Iran.

Year to date, the increase is around 10 dollars a barrel, or approximately 13%.

Petrobras did not increase the prices of gasoline and diesel this year, with market participants pointing to an increase in the gap.

As if the volatility of oil prices were not enough, the dollar has appreciated against the real, another factor that impacts the fuel lag in relation to external values.

On Thursday afternoon, the dollar rose slightly against the real. Year to date, the currency has registered an increase of around 8%.

(Reporting by Rodrigo Viga Gaier, with additional reporting by Roberto Samora and Fabricio de Castro)