(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)