November 11, 2016 / 7:02 PM / in a year

UPDATE 1-Brazil's Petrobras may change prices again, director says

(Adds background on new pricing policy, results)

SAO PAULO, Nov 11 (Reuters) - Brazil’s Petrobras refining and natural gas director, Jorge Celestino, said in a conference call with analysts on Friday that the state-controlled oil company may decide to make a new fuel price adjustment within a month.

Petrobras’ new pricing policy takes into consideration the exchange rate and the company’s market share, among other factors, to set wholesale fuel prices at its refineries, Celestino said.

Answering a question about the steep devaluation of the real against the dollar this week, the executive added that the company is allowed to do more than one pricing change a month.

Petrobras had just reduced gasoline and diesel prices on Tuesday, citing a drop in its market share and rising fuel imports by competitors. (Reporting by Tatiana Bautzer; Editing by Jonathan Oatis and Meredith Mazzilli)

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