OPINION: Petrobras has implemented a fresh pricing formula to manage its policy for setting diesel and gasoline prices in the domestic market, but while the Brazilian oil giant claims the changes will make the company more efficient and competitive, the strategy is anything but transparent.

Nearly seven years ago, Petrobras adopted a game plan that would see the company adjusting fuel prices in Brazil based on variations of international crude prices and the exchange rate — what has been known locally as the import parity policy (PPI).