Petrobras board pressures Lula for fuel price hikes as market gap widens

Petrobras' board, meeting within 24 hours of Brazil's election, demanded plans for refinery fuel price increases, signaling immediate pressure on the new Lula administration to address a growing gap between domestic and international prices. The move reflects market expectations for policy normalization, but the government's response remains uncertain, with potential inflationary and political implications.

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