Brazil Seeks New Measures to Tame War Impact on Fuels

Brazil’s government will ask Congress for authorization to use extraordinary revenue linked to oil to cut taxes on fuel such as gasoline, diesel, ethanol and biodiesel.

President Luiz Inacio Lula da Silva has already announced a series of levy reductions and subsidies for diesel, cooking gas and jet fuel, as well as credit lines for airlines struggling with higher costs. But as the war in the Middle East drags on, the economic team has decided to take additional action.