One month in, Petrobras CEO already in the hot seat

A week ago, Brazil’s state-controlled oil giant Petrobras announced it was raising diesel prices two months after a massive 24.9-percent hike that led to the downfall of its former chief executive officer. Two days later, President Jair Bolsonaro appointed a new Mines and Energy Minister. Now, Mr. Bolsonaro is saying that Petrobras’s new CEO, José Mauro Coelho, could be on his way out, too.

After just over a month in office, Mr. Coelho has lost his main supporter within the government — former head of Mines and Energy, Bento Albuquerque — and is now in the crosshairs of the president and his congressional allies who, eyeing the October elections, want to control inflation by whatever means necessary. 

Or, at least convince voters that they are trying their best to do just that.

During a recent Facebook Live broadcast, Mr. Bolsonaro threatened to take Petrobras to court to lower diesel prices, as a way to “make the company understand its role.” 

Having the government...