Petrobras said it received R$448 million, or $85 million, under a federal gasoline subsidy program, pushing its cumulative receipts from government fuel-support measures to R$9.9 billion, roughly $1.9 billion. The latest payment covers gasoline sold between July 16 and July 31 under Provisional Measure 1,358, and the R$9.9 billion total includes subsidies paid to Petrobras for diesel, gasoline and liquefied petroleum gas. That gasoline program has since expired, with Provisional Measure 1,358 ceasing to be effective on September 9, prompting Petrobras to discontinue a R$0.44-per-liter gasoline discount from September 10. Petrobras said its board approved participation in a new diesel subsidy under Provisional Measure 1,391, which covers producers and importers of road diesel and provides R$1.00 per liter of diesel A for 30 days, with the possibility of extending the measure for another 30 days. The new program can operate alongside an earlier diesel subsidy under Provisional Measure 1,363, which provides R$1.12 per liter, and Petrobras said benefits under the two programs are cumulative. Petrobras has already adjusted its diesel pricing, raising its diesel A sales price to distributors by R$1.00 per liter from September 17 while applying an equivalent subsidy-backed discount, leaving the effective price impact offset by the government support.
Petroleo Brasileiro Petrobras SA ADRPetrobras' board approved participation in a new government diesel subsidy (PM 1,391, R$1.00/liter) that offsets its diesel price increase, with benefits cumulative alongside the earlier PM 1,363 subsidy.
