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UPDATE 1-Brazil's Petrobras to cut LPG prices to distributors

·1 min read

(Adds context)

SAO PAULO, Sept 12 (Reuters) - Brazilian oil company Petrobras on Monday said it will cut prices of liquefied petroleum gas (LPG), which is used as a cooking gas, for distributors by 4.73%, starting Tuesday.

Petroleo Brasileiro SA, as the company is formally known, in a statement said it would lower its LPG price to 4.03 reais per kilogram from a previous price of 4.23 reais per kilogram.

Despite not cutting the price of cooking gas since April, the company has recently made several other cuts to the prices of gasoline and other fuels, which have helped to curb inflation.

Last week, the South American country reported a second consecutive month of deflation, which saw fuel prices shrink by 10.82%. (Reporting by Peter Frontini; Editing by Chris Reese and Mark Porter)