Brazil's Petrobras raises natural gas prices by 19% after oil shock
5/4/2026
Brazilian state-run oil company Petrobras has hiked the price of natural gas sold to distributors by 19.2% starting May 1, it said on Saturday, marking the latest in a series of energy price increases related to the U.S.-Israeli war on Iran.
- Petrobras updates natural gas prices on a quarterly basis, with adjustments tied to Brent crude prices, foreign exchange rates and U.S. Henry Hub benchmarks
- The previous change had happened in February, before the outbreak of the conflict
- Industry group Abegas said last month it expected Petrobras to hike prices by about 20% from May
- The Brazilian company also raised jet fuel prices by 18% this week, following a 55% hike in April
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