Brazil's Petrobras lifts LPG, cooking gas prices in Harvey's wake
9/5/2017
RIO DE JANEIRO (Reuters) — Brazil's state-controlled oil company Petroleo Brasileiro SA said on Tuesday it would raise prices for cooking gas and liquefied petroleum gas (LPG) to distributors after Hurricane Harvey battered US Gulf-area refineries and ports.
The company said it would increase industrial and commercial LPG prices by 2.5% while cooking gas prices will increase by 12.2% starting on Wednesday.
"The arrival of Hurricane Harvey last week impacted American production and ports, which remain out of service. The decreased availability of LPG caused price increases in consumer markets, including in Brazil," Petrobras said in a press release.
Reporting by Roberto Samora and Alexandra Alper; Editing by Paul Simao
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