RIO DE JANEIRO, Oct 29 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA, known as Petrobras, is unlikely to approve a gasoline price increase in its board meeting planned for Friday, a member of the board said on Wednesday.
Petrobras board member Sílvio Sinedino, who represents the company’s workers, said stubborn inflation would not allow much space for a fuel price increase.
“On Friday we will start to discuss the question of price but I think that it’s too early. The government is still settling down (after the elections). I don’t think that there will be an immediate change,” Sinedino said. (Reporting by Rodrigo Viga Gaier; Writing by Reese Ewing; Editing by David Gregorio)