September 6, 2018 / 12:07 PM / 2 months ago

Brazil's Petrobras unveils gasoline price hedge

RIO DE JANEIRO, Sept 6 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA on Thursday unveiled a hedging program for gasoline prices in a bid to boost pricing flexibility and protect its financial result in times of high volatility.

In a securities filing, Petrobras, as the company is known, said the program would allow it to change the frequency of pricing adjustments in the domestic market, keeping them stable for up to 15 days at a time. (Reporting by Alexandra Alper Editing by Daniel Flynn)

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