RIO DE JANEIRO, March 16 (Reuters) - There is a possibility of replacing Petrobras' chief executive, Brazil's President Jair Bolsonaro said on Wednesday, adding further pressure to the state-run oil company's pricing policy.

In an interview with a local TV channel, Bolsonaro said the possibility of replacing Joaquim Silva e Luna as Petrobras CEO exists, although he stressed he was not confirming he would do that.

On Monday, Luna, a retired army general, said he would not leave the company despite facing criticism from Bolsonaro and others over a fuel price hike announced last week.

He was appointed to the job by Bolsonaro last year after his predecessor, Roberto Castello Branco, was fired due to a disagreement with the president over the company's pricing policy.

(Reporting by Pedro Fonseca; Writing by Peter Frontini in Sao Paulo; Editing by Chris Reese)