Brazilian Senate will discuss law on fuel prices | News

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The president of the Brazilian Senate, Rodrigo Pacheco, specified on Monday that the bill aimed at regularizing fuel prices, which can be put on the agenda as of February, will be submitted for discussion and vote in plenary.

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“I will submit it for evaluation by the College of Leaders at the beginning of February. The intention is to guide. Senator Jean Paul Prates will be the speaker and he is dedicating himself a lot to the subject”, said the Brazilian magistrate.

According to the Senate, the project presented by Jean Paul Prates is based on “in addition to creating a stabilization program, with the aim of reducing the volatility of the prices of petroleum derivatives, it creates a new policy of internal prices for sales to distributors and petroleum products produced in Brazil”.

The same Senate expressed that fuel prices translated in 2021 into an increase in gas stations of around 44 percent. Similarly, they noted that the Brazilian company Petrobras raised the prices of gasoline by 4.85 percent and diesel by 8.08 percent for distributors.

“The increase in fuel prices has impacted the inflation rate, which exceeded 10 percent in 2021,” the Chamber stressed.

For its part, local media confirm that inflation in Brazil in 2021 was 10.06 percent, the highest since 2015, when the rate reached 10.67 percent. According to the Brazilian Institute of Geography and Statistics (IBGE), fuels, electricity, rents, coffee and sugar were the sectors where this situation was most intensely observed.

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