Rousseff: Fuel prices could fall
Bnamericas Published: Wednesday, January 05, 2005
If world oil prices and the dollar rate keep falling, Brazil's fuel prices will also be reduced, mines and energy minister Dilma Rousseff said Tuesday. "I'm not saying [fuel] prices will fall tomorrow," Rousseff said. "I'm just saying that if oil prices and the dollar keep falling, we'll have the pleasure of reducing fuel prices." Ever since the record highs of end-October (US$55.7 a barrel in New York and US$51.9/barrel in London), international crude prices have fallen some 30%. This means there is room for Brazil's federal oil giant Petrobras to lower fuel prices, which were marked up twice in the last quarter of 2004, local press reports said.
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