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Petrobras Cuts Diesel Prices for Second Time in a Week

  • President Bolsonaro has been calling for fuel price relief
  • State-run oil producer says it tracks reference prices
A fuel pump at a Petroleo Brasileiro SA (Petrobras) gas station in Rio de Janeiro.

A fuel pump at a Petroleo Brasileiro SA (Petrobras) gas station in Rio de Janeiro.

Photographer: Francesca Gennari/Bloomberg

Petroleo Brasileiro SA reduced diesel prices for the second time in a week as President Jair Bolsonaro tries to ease the sting of inflation ahead of elections. 

The state-run company cut its price to distributors by 0.22 reais a liter (4 cents), to 5.19 reais, it said in a statement. The reduction is effective Friday and followed a decline in international benchmark prices, it said. Petrobras announced the first diesel-price reduction in more than a year last Thursday.