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Economy

Brazil gov’t still undecided on fuel prices

Measures to reduce fluctuation are being discussed

Published on 21/05/2018 - 17:38 By Mariana Tokarnia and Kelly Oliveira - Brasília

Brazil’s Finance Minister Eduardo Guardia said the government is considering the reduction of taxes on fuel, but remains undecided on the topic. The statement was made today (May 21). President Michel Temer summoned a meeting to discuss the subject tonight.

On an online conference with the international press, Guardia said that measures aimed at reducing frequent price changes are being discussed, but noted that the government has no “fiscal flexibility” at the moment.

“We’re in the middle of a process of fiscal consolidation and we have to be really careful with the revenue,” he argued.

Today (21), truck drivers rallied across Brazil against the recent increase in the price of fuels (diesel and gasoline) announced by state-controlled oil giant Petrobras. This is the 11th hike in the price of gasoline in the last 13 days.

Translation: Fabrício Ferreira - Edition: Sabrina Craide / Mariana Branco

fuels truck drivers protest brazil Petrobras

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