May 23, 2018 / 10:56 PM / a month ago

Petrobras cuts diesel price 10 pct in effort to resolve trucker protest

SAO PAULO, May 23 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA on Wednesday decided to cut the cost of diesel at its refineries by 10 percent and freeze prices for 15 days to give the government and truck drivers time to negotiate an end to a protest that has crippled the country's transport logistics.

Petrobras, as the company is known, said in a securities filing that after 15 days it would gradually resume a year-old policy of nearly daily price adjustments tracking global markets, adding that the freeze did not represent a change in that policy. (Reporting by Roberto Samora, editing by G Crosse)

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