Brazil’s President Jair Bolsonaro said the government won’t interfere with any move by state-controlled oil company Petrobras to raise fuel prices in the coming days with higher global prices and a weakening local currency.
Investors have been concerned that Brazil will force Petrobras to start subsidizing fuel to contain inflation ahead of presidential elections next year. Bolsonaro, who was speaking to reporters Sunday at an event broadcast live on Facebook, also said that Brazil wouldn’t have any fuel shortages like what recently happened in the U.K.
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October 24, 2021 at 11:58PM
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Bolsonaro Says Fuel Prices to Rise and Vows Not to Interfere - Bloomberg
"fuel" - Google News
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