SAO PAULO, March 3 (Reuters) - Brazilian President Jair Bolsonaro on Thursday said state-run oil producer Petroleo Brasileiro SA could, due to the crisis inflicted by the war in Ukraine, lower its profit to prevent fuel prices from exploding.

In a weekly social media address, Bolsonaro said he was certain Petrobras, as the company is known, would do what is necessary to shield Brazilian consumers from steep price increases.

"I will not interfere with Petrobras," Bolsonaro said. "But Petrobras, in turn, is aware of its responsibility and knows what it has to do to collaborate so that the price of fuel here does not skyrocket."

Last month, Petrobras smashed its all-time record for annual profit and dividend payouts in 2021, thanks to sky-high Brent prices. Despite Bolsonaro's pledge not to interfere, his remarks could raise fears among investors that he could seek to meddle in price setting.

Petrobras' policy of seeking parity between domestic fuel prices and international markets has angered many Brazilians as the cost of Brent crude has soared. A growing chorus of politicians has said Petrobras should help shoulder the burden.

On Wednesday, Chief Executive Joaquim Silva e Luna told Reuters Petrobras had not yet decided on fuel price adjustments.

FERTILIZER CRISIS

Bolsonaro was joined on the call by Agriculture Minister Tereza Cristina Dias to speak about Brazil's fertilizer crisis. Russia and Belarus are key suppliers of potash to Brazil's giant agribusiness sector, and Dias said Brazil could not resume imports from those countries until the war is over, due to global sanctions and effects on supply chains.

As a result, Brazil's government is rolling out a new national fertilizer plan to stimulate investments in potash and phosphorus mines, which should be ready this month. It aims to minimize bottlenecks in terms of legislation, taxes and especially environmental issues.

On Thursday, Dias said the plan should guide Brazil toward self-sufficiency in a crucial raw material for an important part of the economy.

Bolsonaro said fertilizer supply issues probably would affect prices in Brazil, adding such a reliance on a key import can lead to "serious consequences."

Dias said all fertilizer cargo ships arriving in Brazil would now have unloading priority at Brazilian ports. (Reporting by Peter Frontini in Sao Paulo Writing by Gabriel Stargardter Editing by Matthew Lewis and David Gregorio)