October 14, 2016 / 5:11 PM / a year ago

Brazil finance minister: fuel price cut to help against inflation

BRASILIA, Oct 14 (Reuters) - Brazilian Finance Minister Henrique Meirelles said on Friday that the decision by the state-run oil company Petrobras earlier in the day to cut fuel prices would have a positive effect on reducing inflation.

Petroleo Brasileiro SA, as the company is known officially, said it would cut wholesale fuel prices as part of a new policy tracking international benchmarks more closely after politically driven pricing cost the company billions in recent years. (Reporting by Marcela Ayres; Writing by Reese Ewing; Editing by Chris Reese)

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