Brazil prolongs fuel aid and approves new energy measures
The Brazilian government announced the extension of fuel subsidies for an additional two months, aiming to reduce the impact of global oil price fluctuations resulting from geopolitical tensions, including the war in the Middle East. Diesel support will be set at 1.12 Brazilian reais (approximately 20 cents US) per liter, and will be directed to refining companies and importers to replace the subsidy programs that ended in May. The government also decided to extend support for cooking gas and tax exemptions on jet fuel until July, and introduce a cash refund system instead of the tax exemption system on diesel as part of its efforts to achieve financial stability and stabilize energy markets.
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