FUEL PRICES
Lula tries to offset effects of Iran war on fuel prices
President Lula shows the decrees he signed on Thursday to prevent diesel price hikes. Photo: Ricardo Stuckert/PR
President Luiz Inácio Lula da Silva unveiled an emergency package to shield Brazilian consumers from rising fuel prices — and, not incidentally, from the political fallout of a worsening economy in an election year.
The package combines a provisional decree and a presidential decree, both published Thursday in an extraordinary edition of the government's official gazette. Together, they aim to cut diesel prices by BRL 0.64 per liter at the pump. The nationwide average cost of diesel stood at BRL 6.08 per liter on March 7 (around USD 4.39 per gallon), according to the latest available data published by the National Oil Agency (ANP).
The provisional decree has the force of law, but requires congressional approval within 120 days. With this instrument, Lula…
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