LatinNews Daily - 3 June 2025

*Brazil’s state-controlled oil company Petrobras has reduced its gasoline sales prices to distributors by 5.6%. Starting today (3 June), the average selling price to distributors will be R$2.85 (US$0.50) per litre, marking a reduction of R$0.17 per litre. According to a company press release, the total reduction in gasoline prices at Petrobras refineries since December 2022 amounts to 17.5% in real terms. The latest price reduction by Petrobras could help to continue the downward trend in recent months for gasoline prices. According to inflation figures released by the national statistics institute (Ibge), the monthly price increases for gasoline slowed from 2.78% in February to 0.51% in March, before registering monthly deflation of 0.35% in April.

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