Petrobras announced an 8.1% reduction in the price of natural gas for distributors| Photo: Fernando Frazão/Agência Brasil

Petrobras announced this Monday (17th) an average reduction of 8.1% in the price (reais/m³) of natural gas for distributors, as of May 1st. According to the oil company, in the reference quarter, oil fell by around 8.7% and the exchange rate appreciated by approximately 1.1%.

In a note, the company said that the contracts with distributors provide for quarterly updates of the gas price and link the readjustments to fluctuations in Brent oil and the exchange rate.

The state-owned company also said that the price of gas to the final consumer will depend on the profit margin of distributors and federal and state taxes. And in the case of piped gas distributors, consumer prices are set by state regulatory agencies.

The reduction is not valid, however, for the gas cylinder, which adopts LPG as a reference value.