Good morning and happy International Women’s Day! Today, we talk about how the government will try to use Petrobras to hold oil prices down. A look at Brazil’s gender equality failures. And new ESG regulations.
Bolsonaro wants a ‘solution’ for oil prices today
With oil prices continuing to rise, pressure has mounted on Petrobras to increase its rates. The company reportedly wants to raise the cost of gas this week, but has been in talks with the government to find a way to do so without overburdening consumers. Fuels represent around 6 percent of families’ expenses, meaning any price hikes have an immediate effect on household budgets.
- Oil prices could go further up, with the U.S. and Europe mulling over a ban on imports from Russia — the world’s third-largest oil exporter.
- According to fuel importers, Brazil’s prices are between 26 and 30 percent below international rates. It’s been over 50 days since Petrobras last raised its prices.
What to do? Alongside Economy Minister Paulo Guedes and Mines and Energy Minister Bento Albuquerque, President Jair Bolsonaro met with Petrobras representatives on Monday and says he wants to present a “solution without much trauma” today.
- Experts told the president that the...