Jan. 15 (Bloomberg) -- Petroleo Brasileiro SA, the most indebted publicly traded oil company, denied a newspaper report that it’s planning to raise gasoline and diesel prices.
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.
To contact the reporter on this story: Mario Sergio Lima in Brasilia Newsroom at email@example.com
To contact the editor responsible for this story: James Attwood at firstname.lastname@example.org