Brazilian state-run oil firm Petrobras BMFBOVESPA:PETR3 said on Tuesday it is reducing diesel prices to distributors by 0.3515 reais ($0.0682) per liter as of July 1st, while simultaneously suspending a temporary discount it has been offering of the same amount.

In a statement, Petrobras said that, as a result of the moves, there will be no effective change in the prices of diesel to distributors, which will remain at an average 3.30 reais per liter.

($1 = 5.1565 reais)