August 21, 2012 / 2:32 PM / 5 years ago

Petrobras not in talks with gov't to raise fuel price-CEO

RIO DE JANEIRO, Aug 21 (Reuters) - Brazil's state-led oil company Petrobras is not in negotiations with the government over further adjustments in the price of fuels, the company's chief executive, Maria das Gracas Foster, said on Tuesday.

Petrobras posted heavy losses from its domestic fuels business in past quarters due to the government's policy of holding gasoline and diesel prices largely unchanged at the pump over the past eight years.

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