Domestic gasoline sales in Brazil set a record in December as the country's economic boom generated strong demand, state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, said Wednesday.
Domestic gasoline sales in Brazil set a record in December as the
country's economic boom generated strong demand, state-run energy giant
Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, said Wednesday.
Petrobras said that it sold an average of 399,000 barrels a day of gasoline,
topping the previous record set in March. For 2010, gasoline sales increased
17.8% compared with 2009, the company added.
"The outlook for coming months points toward continued heated sales, a
function of the larger fleet of light vehicles on record auto sales in 2010 and
the inter-harvest period for sugar cane," Petrobras said in a filing with
stock regulators.
Higher sugar prices have caused ethanol prices to climb in recent months,
making gasoline more attractive to drivers of
Brazil
's
flex-fuel fleet of cars and trucks.
Aviation fuel sales also set a record in December, thanks to greater numbers of
Brazilians traveling via airplane, Petrobras said.
The company sold an average of 119,000 barrels of aviation fuel per day, a 4.9%
increase from the previous record set in July. Aviation fuel sales were up
16.6% in 2010 compared with 2009, Petrobras said.
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