Petrobras board approves R$1.00 per liter diesel subsidy

On Saturday, 19 September 2026, Petrobras reported that its board of directors approved the company's participation in a new government subsidy program for diesel fuel producers. The program pays R$ 1.00 per liter and will remain valid for 30 days, with the option of an extension for another 30 days.

The new incentive is cumulative with an existing subsidy of R$ 1.12 per liter. Earlier this week, Petrobras announced an average price increase for diesel sold to distributors of R$ 1.00 per liter, while simultaneously granting a discount of the exact same amount. Consequently, net prices charged to distributors remain unchanged.

In a separate statement, the state-run producer said it received R$ 448 million under a gasoline subsidy program tied to sales completed between 16 July and 31 July. Total accumulated subsidies across programs for diesel, gasoline, and liquefied petroleum gas reached R$ 9.9 billion.

Brazilian President Luiz Inacio Lula da Silva has sought to buffer the impact of rising crude prices triggered by the war in Iran ahead of the presidential election in October.