May 24, 2018 / 1:37 PM / 7 months ago

Petrobras shares plunge after diesel price cut fans meddling fears

RIO DE JANEIRO, May 24 (Reuters) - Shares in Brazil’s Petroleo Brasileiro plummeted in early trading on Thursday after the state controlled oil company cut diesel prices to help resolve a trucker strike, fanning investor fears of government meddling in the oil giant.

Preferred shares of Petrobras sank by over 13 pct to 20.18 reais following the decision announced Wednesday night to cut prices by 10 percent for 15 days. (Reporting by Alexandra Alper Editing by Chizu Nomiyama)

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