SAO PAULO (Sept 21): State-controlled Brazilian oil company Petroleo Brasileiro SA is considering lowering wholesale gasoline and diesel prices by year-end, which would be the first time since September 2015, O Globo newspaper said on Wednesday. Citing sources close to management, the paper said the company may cut prices of fuels at its refineries to match those of international competitors. "The main difference is that if we want to alter the price today, we change it," Parente said. The lowering of gasoline prices would squeeze the margins of Brazil's ethanol sector, which competes directly with the petroleum-based fuel at the pump. A drop in gasoline prices will make sugar even more attractive to mills.

Source: The Edge Markets September 21, 2016 13:52 UTC