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