Petrobras announces fuel price reduction in Brazil
The president of Brazil announced that Petrobras will implement a small-scale reduction in fuel prices starting this week
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.
Hydrocarbons have registered a sustained growth in their prices during this 2021 in Brazil, stimulated by the revaluation of oil in the international market, coupled with the loss of the value of the Brazilian real against the dollar.
The rise in diesel during the year is equivalent to 65 % and gasoline in 73 % in the different refineries of the South American country, which had an impact on the final consumer. The increase in fuels has also caused, in a decisive way, the increase in inflation, which has exceeded double digits, currently registering 10.7 %.
Bolsonaro without control over Petrobras
The president of Brazil has complained, on multiple occasions, about the increase in fuel prices, especially forced by the heavy cargo sector or truck drivers, who make up part of the social support of his government and are now threatening to go on strike as protest measure against the increase in fuels.
On several occasions, Bolsonaro has declared that he does not have the power to manage and “interfere in Petrobas and that he will not control the prices of anything”, although at the same time he recognizes that he is “looking for formulas to change the calculation method.”
After several criticisms of the increase in fuel prices, last February Bolsonaro appointed Joaquin Silva e Luna, general of the army reserve, as Petrobas president. However, the adjustments continued and it is currently expected that the necessary measures will actually be taken to reduce prices.
M. Rodríguez
Source: elcomentario.ucol.mx
