Senate committee wants to hear Petrobras president on new fuel price policy

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The Economic Affairs Commission approved an invitation to Jean Paul Prates after the company announced that price adjustments will be made without periodicity, ‘avoiding pass-through to domestic prices’ of international volatility and the exchange rate. The president of Petrobras, Jean Paul Prates, during the first press conference in March Tomaz Silva/Agência Brasil The Economic Affairs Committee (CAE) of the Senate approved this Tuesday (16) an invitation for the president of Petrobras, Jean Paul Prates, attend the collegiate to provide clarification on the new fuel price policy announced by the state-owned company, replacing the import parity policy. The approved application was proposed by Senator Alessandro Vieira (PSDB-SE). A date for the appearance of Jean Paul Prates, who is a former senator, will be scheduled by the commission. As it is an invitation and not a summons, Jean Paul Prates is not obliged to attend. However, when an invitation is approved, the invitee’s allies arrange for the invitee to attend to avoid a summons. The changes Earlier, this Tuesday, Petrobras announced the end of the parity of oil prices – and derived fuels, such as gasoline and diesel – with the dollar and the international market. Under the rule in force since 2016, the price of these products in the domestic market follows international fluctuations, that is, there is no government intervention to guarantee lower prices. In the previous calculation, called the Import Parity Price (PPI), Petrobras considered the value of oil on the global market and logistical costs such as chartering ships, port fees and the use of internal pipelines for transportation. According to Petrobras’ official note, the new “commercial strategy” uses two market references: the “customer’s alternative cost, as a value to be prioritized in pricing”, and the “marginal value for Petrobras”. Petrobras approves new pricing policy

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