Petrobras Cuts Gasoline Prices By 5.6% Amid Rising Demand

On June 3, Petróleo Brasileiro – Petrobras (NYSE:PBR) announced a 5.6% reduction in gasoline prices for distributors, marking the first such cut since October 2023. Effective immediately, gasoline will be sold at 2.85 reais per liter (~$0.5005), which is a decrease of 0.17 reais. The company’s last fuel price adjustment was a 7% increase in July 2024.

Petrobras Cuts Gasoline Prices 5.6% Amid Rising Demand

A worker in a hard hat looking up at an offshore drilling rig at sunset.

Data from Brazil’s National Petroleum Agency shows that distributors sold 3.81 billion liters of gasoline in April this year, which is a 4.6% rise from April last year. Year-to-date sales through April 2025 totaled 14.74 billion liters, which represented a 3.5% increase year-over-year. This rebound indicates a recovery in consumer mobility after sluggish sales in 2023. However, the full impact of this price cut on end-user prices at gas stations will depend on various factors, such as federal & state taxes, and retail profit margins.

Petrobras also recently awarded a €250 million offshore maintenance contract to Mota-Engil’s Brazilian subsidiary. This 48-month agreement focuses on maintaining platform integrity in the Campos Basin, which is a key hub for Brazil’s offshore oil production and is crucial for extending the lifespan of aging infrastructure.

Petróleo Brasileiro – Petrobras (NYSE:PBR) explores, produces, and sells oil & gas in Brazil and internationally. It operates through 3 segments: Exploration & Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies.

While we acknowledge the potential of PBR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PBR and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.