Browsing Tag

gasoline

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 Minister of Finance and Prices, Vladimir Regueiro,…
Read More...

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…

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.…

The US will release 50 million barrels of oil

Joe Biden, president of the United States, issued instructions to release 50 million barrels of oil from the country's reserves, with the purpose of mitigating the increase in fuel prices. Biden is working in coordination with a group of…

Oil prices fall due to OPEC+ uncertainty

Oil price registered a depreciation at the close of the day on July 15 due to the possibility that the OPEC+ alliance agreed to an increase in supply and after knowing an increase in gasoline reserves in the United States, which causes…

Brazil will eliminate diesel taxes

The president of Brazil, Jair Bolsonaro, announced that the government will eliminate federal taxes on diesel for two months, in order to seek the tax exemption indefinitely, and will abolish tax rates on gas permanently. This was…

Government exempts payment of VAT on fuel

Through the Official Gazette number 41.890, the Venezuelan Government announced that the sale of fuel, among other things, will not have the value added tax (VAT). Specifically, the Executive Exempted the importation tax and the sale of…