The United States government announced to the media this Sunday, May 10, that it will suspend the gasoline tax as relief from the price increases resulting from the Iran trade war.
President Donald Trump said that all necessary measures will be taken to reduce the impact of this situation on…
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Middle East conflict accelerates relief measures in the energy sector
The Middle East conflict has repercussions at both the regional and global levels. The increase in oil prices has spread to the gas and fuel sectors, prompting the European Union to prepare contingency measures to minimize the effects on…
Imports of fuels and additives exempt from taxes
This week, the Venezuelan government announced its decision to exempt the import of fuels and additives from taxes.
This is stated in Official Gazette No. 43,292, dated January 9, 2026, which published Decree No. 5,207, establishing the…
Bolivia to allow the use of cryptocurrencies for fuel purchases
The Bolivian government issued a decree authorizing the state-owned energy company YPFB to use cryptocurrencies to pay for energy imports, particularly gasoline and diesel.
The South American country is currently experiencing an internal…
BCV: Venezuela registered an inflation of 4.1 % in the first quarter of 2024
Venezuela registered an accumulated inflation of 4.1 % in the first quarter of the year, after adding 1.2 % in March, the same as in February and 1.7 % in January, reported the Central Bank (BCV).
The 1.2 % rate is the lowest the nation…
Cuba will increase the cost of gasoline by 500 %
The Cuban government announced that the increase in gasoline by almost 500 % will come into effect next March 1, a month after the originally planned date. In addition, as part of a series of measures to tackle the country's fiscal deficit,…
The U.S. had a surge in its oil reserves
Commercial oil reserves in the United States experienced an unusual increase of 1.3 million barrels over the past week, altering market projections. As reported by the U.S. Energy Information Agency (EIA) last Wednesday, this change defies…
Portugal announces lower fuel tax due to inflation
The president of Portugal, António Costa, announced a new fiscal discount measure for the tax on diesel and gasoline as a palliative to the inflation rate.
“The reduction in taxes applicable to fuels in force in Portugal amounts to 25.1…
Biden considers temporarily freezing gasoline taxes
Joe Biden, president of the United States, is evaluating the possibility of temporarily freezing the federal tax on gasoline, a measure that could place the price of a gallon at 18.4 cents for drivers.
Biden affirmed that he was analyzing…
Commercial crude oil reserves in the US increase
The US Energy Information Agency (EIA) announced that commercial oil reserves in the United States increased by 9.4 million barrels; however, gasoline storage suffered a sharp decrease equivalent to 3.6 million barrels, while distillate…
The US will release a million barrels of oil daily
Joe Biden, President of the United States, ordered the release of one million barrels of oil per day for the next six months, in order to replicate the increase in energy prices as a result of the war between Russia and Ukraine.
This is…
Petrobras announces fuel price reduction in Brazil
Jair Bolsonaro, president of Brazil, reported that Petrobras, the state-owned oil company, will initiate a plan of small weekly reductions in the price of fuels. However, the president did not specify quantities, percentages, or terms.…