Petrobras, regarding the news published in the media about fuel prices, clarifies that it practices prices aligned to the import parity.
In the first half of 2020, given the significant increase in fuel price volatility, Petrobras decided to extend from quarterly to annual the limit period for the application of the fuel price policy. Petrobras also adopts short-term price monitoring metrics. This practice of monitoring price alignment has been in place since then but can be changed in the best interests of its shareholders.
Thus, in a quarter domestic prices may eventually fall below the import parity price provided that this difference is more than offset in the following quarters.
This has not affected Petrobras' financial performance. As reported, the company presented a solid performance in the first nine months of 2020, with strong operating cash flow generation and gross debt reduction amid an unprecedented crisis in the global oil and natural gas industry.
Petrobras reinforces its independence in determining fuel prices aligned to international markets. So, there is nothing new in the media news today.
