Petrobras: Shares fall after gasoline price reduction – 06/15/2023 – Market

Petrobras shares closed down this Thursday (15), starting to operate in the negative after the oil company announced a reduction of R$ 0.13 per liter in the sale price of gasoline in its refineries. The company had started the session on a high, favored by the increase in oil prices abroad.

As a result, Petrobras’ preferred shares fell by 2.32%, quoted at R$29.40, while common shares fell by 1.18%, at R$33.29. Both were among the most traded stocks of the session.

According to the state-owned company, starting this Friday (16), a liter of gasoline at the state-owned refineries will cost, on average, R$ 2.66, with a reduction of R$ 0.13, and the company estimates that the pump price can fall to R$ 5.33 per liter.

The cut announced this Thursday was the second in about a month – the last one was announced when the company announced its new pricing policy, on May 16 – and helps the government to contain the inflationary pressure that the tax hike brings on the gasoline.

The Minister of Finance, Fernando Haddad, had stated that Petrobras would reduce the price of gasoline to partially offset the higher taxes, but he backtracked after the company refused in a statement to the CVM (Securities and Exchange Commission).

Also this Friday (16), Petrobras pays the second installment of the 2022 dividends, in the amount of R$ 12.1 billion.

The amount will be adjusted by the Selic rate from December 31, 2022 to June 16, 2023 and shareholders will receive R$0.92692932 per share. Investors who held Petrobras shares on April 27, 2023 will be entitled.

The amount corresponding to monetary restatement will be subject to Income Tax at the rate of 22.5%.