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Brazilian President Lula Ends Fuel Price Peg to the US Dollar, Announces Wholesale Discounts
Brazilian President Luiz Inacio ‘Lula’ da Silva has announced that state oil company Petrobras will not be using US dollar-based international prices to set its internal fuel pricing structure. The “Brazilianization” of the industry determines discounts for distributors, with prices now being determined by other benchmarks. Brazilian President ‘Lula’ Announces New Fuel Pricing Structure; Abandons
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