Petrobras is considering a return to retail fuel sales after Brazil President Lula da Silva and the company's CEO complained about high pump prices, Bloomberg reported Thursday.
Four years after exiting the business now known as Vibra Energia, Petrobras (NYSE:PBR) board will meet this week to discuss amending the company's strategic plan to include a presence in the retail sector, according to the report.
It is not clear if such a move would involve trying to fully re-nationalize Vibra or buying a stake in the convenience store operator and distributor of cooking fuels and other petroleum products.
Lula has often complained that wholesale price cuts by Petrobras (PBR) for gasoline, diesel and other products have not flowed through to consumers at the retail level.
Full story Petrobras eyes return to retail fuel sales, board set to discuss - Bloomberg
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