November 8, 2016 / 11:48 PM / 2 years ago

UPDATE 1-Brazil's Petrobras to cut diesel, gasoline prices as oil falls

(Adds price reductions for each product)

SAO PAULO, Nov 8 (Reuters) - State-controlled Petróleo Brasileiro SA said on Tuesday it plans to cut diesel and gasoline prices at the refinery point on Wednesday, following a decline in oil prices.

Petrobras, as the Brazilian oil company is known, said in a statement that if the full reduction is applied by distributors and gas stations, diesel prices may fall up to 6.6 percent and gasoline prices up to 1.3 percent.

Executives at Petrobras will explain the decision at a press conference early on Wednesday. (Reporting by Guillermo Parra-Bernal; Editing by Cynthia Osterman)

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