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 has recorded since August 2012, when goods and services became…
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gasoline
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.…
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…
Macron will take measures to face the rise in fuels
Emmanuel Macron, president of France, reported that his government is studying applying some short-term measures to compensate the people most affected by the increase in fuel prices, with diesel at record levels.
During his inspection 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…