Government scrambling to keep diesel prices down — and keep trucks moving

The Luiz Inácio Lula da Silva administration announced a new diesel subsidy of BRL 1.20 per liter on imported diesel (17% of the nationwide diesel price average at the pump), to be split evenly between the federal government and the states, and valid through May. It is the third significant intervention in less than two weeks, and a sign that earlier measures have not yet done the trick.