Latest news with #pricecut
Reuters
12 hours ago
- Business
- Reuters
Brazil's Petrobras cuts gasoline prices for the first time since 2023
RIO DE JANEIRO, June 2 (Reuters) - Brazilian state-run oil firm Petrobras ( opens new tab said it will reduce gasoline prices to distributors from Tuesday, marking the first price cut for the fuel since October 2023. Gasoline prices will go down by 5.6% to an average 2.85 reais ($0.5005)/litre, a 0.17 reais cut per litre, Petrobras said in a statement on Monday. The reduction comes after gasoline sales by distributors in Brazil rose 4.6% in April from a year earlier, reaching 3.81 billion litres, according to data from the regulator ANP. In the year-to-date through April, gasoline sales totalled 14.74 billion litres, an increase of 3.5% compared to the same period in 2024. Sales declined last year compared to 2023. Since 2023, Petrobras has enacted a new pricing policy that aims to avoid passing international volatility on to the domestic market. The firm's last adjustment was in July 2024, when Petrobras raised gasoline prices by 7%. However, Petrobras's price cut will not immediately be felt by end consumers at gas stations as it will depend on factors such as tax collection, anhydrous ethanol blending and profit margins in distribution and retail. ($1 = 5.6939 reais)
Yahoo
a day ago
- Business
- Yahoo
Coles confirms major price move as Woolworths, Aldi supermarket war heats up: ‘Immediate relief'
Coles is lowering the prices of hundreds of products in-store and online as the competition to win customers over rivals Woolworths and Aldi intensifies. The supermarket giants have been announcing a raft of discounts in the last few weeks. Coles has revealed plans to cut prices on 307 winter essentials and household staples across meat, bakery, pantry and dairy. It's part of its latest Down Down campaign, which will offer an average saving of 19 per cent for 12 weeks from Wednesday, June 4. It comes just weeks after Woolworths kicked off the price-slashing competition, lowering the price on 400 items until 2026. Aldi has also thrown its hat into the ring, with CEO Anna McGrath telling Yahoo Finance it 'will not be beaten on the cost of your weekly shop'. RELATED Coles and Woolworths checkout move that there's no coming back from: 'Will only accelerate' Coles, Woolworths shelves reveal devastating reality for coffee lovers: 'From $49 to $62' Aussie couple making $1,200 a day from job anyone can do: 'Went off like an explosion' Coles' winter price reductions will be on top of the products currently on Down Down pricing across stores. From Wednesday, customers will be able to shop an average of 588 discounted prices until the end of August. 'This winter we're investing in bringing prices down to deliver immediate relief at the checkout to our customers,' Coles chief commercial officer Anna Croft said. "Whether it's a leg of lamb roasting in the oven, a freezer full of batch-cooked meals, or a simple stir-fry to feed hungry mouths, Coles is helping households make meals they love at lowered prices.' Coles has also launched its first Flybuys Activate Bonus Value Points offer, which will give customers 10 times the points on more than 800 items in June. It also has a range of bonus points offered on selected Liquorland products. Croft said this will allow customers to 'supercharge their points balance' and help them accumulate the 2,000 points needed for $10 off their shop faster. Woolworths, Australia's biggest supermarket chain, announced it would be lowering prices on nearly 400 popular products until at least 2026 last month. The supermarket giant claimed families spending $150 on their weekly shop could now save an average of around $15 a week when buying the discounted products, which include chicken schnitzel, greek yoghurt and frozen berries, along with essentials like flour, bread, rice and nappies. Woolworths CEO Amanda Bardwell said the move marked the start of a 'real, tangible change' for customers and was more than short-term relief. 'This isn't just a short-term promotion; it's about lower shelf prices on the products we know customers regularly shop for, and providing genuine, lasting and dependable value they can count on,' she said. Aldi has pushed back on offering temporary discounts to customers and claimed it would come on top for customers in the supermarket price war. "We've been committed to this promise since day one as we understand that trust isn't built on flash sales, and loyalty isn't earned through discounts alone," McGrath told Yahoo Finance. "So, while some prefer to play a price-drop strategy, we remain focused on what we do best: delivering quality products at everyday low prices. We are committed to maintaining this promise." Aldi has consistently been found to be the cheapest option by CHOICE's government-funded supermarket price report. It found Woolworths was $15.83 more expensive than Aldi for a basket of 14 essential items, including milk, butter, bread, pasta, mince and fresh fruit and vegetables. Coles was $15.33 more expensive, while IGA was $23.54 more.
Reuters
3 days ago
- Business
- Reuters
Brazil's Petrobras to cut average jet fuel prices by 7.9% as of June
RIO DE JANEIRO, May 30 (Reuters) - Brazilian state-run oil firm Petrobras ( opens new tab will cut its average jet fuel prices to distributors by 7.9%, or 0.28 real ($0.0490) per liter, starting June 1, the company said in a statement on Friday. ($1 = 5.7174 reais)
Motor Trend
6 days ago
- Automotive
- Motor Trend
The 2026 Kia EV9 Holds Line on Pricing, Some Models Even See Reductions
So far, 2025 has been clouded by consumer (and automaker) angst over the effects of on-again, off-again tariffs. And even before this year, new-car prices had steeply risen following pandemic-era supply shocks and factory pauses and so on, so against that backdrop, it's surprising when news of a new car, truck, or SUV holds the line on pricing year-over-year or even sees a price cut. Bust out the champagne for the 2026 Kia EV9, which sees its prices slashed by up to $2,000 across its lineup. 0:00 / 0:00 so when news of a new car, truck or SUV cost the same or even less than the previous model year, it's celebrated news. By slashing its price by up to $2,000, the 2026 Kia EV9 is defiantly showing the way as both an all-electric, three-row SUV and an imported brand with a vehicle assembled in the US. Hopping into a new 2026 Kia EV9 still demands just less than $60,000, with the entry-level 2026 EV9 carrying the same $56,395 price tag as the 2025 model. This is largely due to the rear-drive, single-motor 2026 Light Standard Range battery pack—and most of the rest of the EV9—carrying over unchanged. Even so, the Light with the bigger Long Range battery pack is $2,000 cheaper than before ($59,395 vs. $61,395 for 2025) but gains one extra mile in range, going from 304 to 305 miles courtesy of its 99.8-kWh capacity. The dual-motor, all-wheel-drive EV9 Wind trim level now starts at $65,395, staying the same as 2025, but gains three miles of range (305 miles for 2026). All AWD EV9s will also gain Terrain Mode—with mud, sand, and snow profiles—that replaces the simple '4WD' mode from 2025. The EV9 Land AWD gains the same three miles of range but will be $1,000 cheaper than for 2025 ($70,395 vs. $71,395). The 2026 Kia EV9 Land AWD also gets a new Nightfall Edition option, a darkened appearance package at no extra cost in either the six- or seven-seat configuration. The Nightfall Edition adds unique front and rear bumpers along with a new and exclusive Roadrider Brown exterior color and 20-inch gloss black wheels and gloss black badging, trim, and other exterior elements. It also comes with unique seat stitching and design elements inside like exclusive gloss black side sills. 2026 Kia EV9 Full Lineup Driving Range Finally, the 2026 Kia EV9 GT-Line will not only be $2,000 cheaper but gains 10 miles of range (280 miles vs. 270 miles for the 2025 version). It also gets two new two-tone exterior color options (Glacial White Pearl or Wolf Gray, with both wearing an Ebony Black roof). What we're all still waiting for is the high-performance EV9 GT model. We've seen the details on this hyper family hauler that promises power north of 500 hp from all four wheels, but we're still waiting to see what its price will be. Once we have that information, we'll update this story. 2026 Kia EV9 Full Lineup Pricing
South China Morning Post
26-05-2025
- Automotive
- South China Morning Post
BYD's price cuts shock China's EV market, spark fears of price war escalation
BYD 's decision over the weekend to cut prices on 22 models to promote sales has cast a pall over the earnings outlooks of Chinese electric vehicle (EV) makers , as many competitors are expected to follow suit in an effort to retain market share. BYD's Hong Kong-listed shares lost 7.5 per cent to close at HK$425.20 on Monday. Xpeng saw its shares close 3.4 per cent lower at HK$75.35, while Li Auto closed 3.2 per cent lower at HK$109.90. And Geely shares fell 6.7 per cent to close at HK$18.38. On Friday, BYD said that until the end of June it would offer discounts of 10 to more than 30 per cent on 22 of its battery-powered and plug-in hybrid models. The latest discounts were mainly focused on models priced under 150,000 yuan (US$20,820). The highest-priced model included in the promotion was the Xia multipurpose vehicle, which remained above 200,000 yuan after a discount of about 13 per cent. The price of BYD's cheapest model, the all-electric Seagull hatchback, was reduced 20 per cent to 55,800 yuan from 69,800 yuan. The largest discount was for the Dynasty series Qin Plus DM-i, which saw its sticker price fall 34 per cent to 63,800 yuan from an official guide price of 79,800 yuan. Analysts from Morgan Stanley said that 'while some of these discounts have been in place since April, the official announcement sends a strong signal' about how tough the market was.
