This excerpt taken from the PBR 6-K filed Sep 12, 2005.
Increase in Gasoline and Diesel Prices
(Rio de Janeiro, September 09, 2005). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA], a Brazilian international energy company, is notifying its customers today that it is increasing the price of its products as of midnight tonight according to the following table (increases in invoice prices ex-refineries, not including ICMS - average for Brazil).
The ex-refinery prices of gasoline and diesel include Petrobras realization prices plus federal and state taxes.
These price adjustments were calculated by the Company taking into account the new levels of the price of oil. They incorporate medium and long-term perspectives and are in accordance with the specifications defined in the Strategic Plan to maintain parameters with the price of oil products in the international market.
It is with the income received from the sale of our products that Petrobras is able to achieve its investment program, consequently discovering more oil and gas, constructing and operating industrial plants and developing transportation and logistics network that guarantees the domestic supply of oil products and the returns for its stockholders.
Petróleo Brasileiro S.A PETROBRAS
Investor Relations Department
Raul Adalberto de Campos Executive Manager
Av. República do Chile, 65 - 4th floor
20031-912 Rio de Janeiro, RJ
(55-21) 3224-1510 / 9947
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: September 9, 2005
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually oc cur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.