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Increase of Diesel Price

Rio de Janeiro, July 12, 2012 – Petróleo Brasileiro S.A. – Petrobras informs the increase of 6% of the diesel price at the refineries, with effect from July 16, 2012.

The price of diesel which the adjustment applies does not include federal taxes (CIDE, PIS/Cofins) and state taxes (ICMS). It is expected that the final price to consumers, which also includes the biodiesel cost and distribution and sales margins, will have an increase of approximately 4%.
 
This price adjustment was implemented considering the Company's pricing policy, which seeks to align the price of oil products linked to the international market, in a medium and long-term perspective.

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