October 14, 2016 / 1:07 PM / 9 months ago

Petrobras to change Brazil fuel prices more frequently, says CEO

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RIO DE JANEIRO, Oct 14 (Reuters) - Brazil's state-run oil company Petrobras will change fuel prices more frequently but without a fixed formula, Chief Executive Pedro Parente said on Friday, detailing a new pricing policy that takes effect on Saturday.

Petroleo Brasileiro SA, as the company is formally known, said in a filing that its board agreed to cut prices for diesel by 2.7 percent and gasoline by 3.2 percent under the policy which will track international prices more closely. (Reporting by Marta Nogueira and Rodrigo Viga Gaier)

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