Folha de S.Paulo newspaper reported that the state-owned oil company may increase fuel prices before June to avoid contributing to inflation during President Dilma Rousseff’s re-election campaign, without revealing sources.
“Regarding the news report published today, Petrobras reaffirms that there is no decision for the gasoline and diesel price increase,” the Rio de Janeiro-based company said in an e-mailed statement.
The Folha report is “baseless” and the government hasn’t discussed such a price increase, Brazil’s Energy Ministry said in an e-mailed statement today.
Petrobras rose 2.2 percent to 16.04 reais at the close in Sao Paulo.
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