Government denies electoral motive in new tax exemption on gasoline
Lula foresees an impact of R$ 5.2 billion on public accounts in 30 days with measures for gasoline, diesel, and ethanol. Read on Gazeta do Povo.
TL;DR
- Finance Minister Dario Durigan denies electoral motivation for new federal tax exemption on gasoline.
- The exemption increases the benefit from R$ 0.63 to R$ 0.89 per liter.
- Estimated impact on public accounts is R$ 5.2 billion in 30 days for gasoline, diesel, and ethanol.
- Government cites international market instability and Middle East conflict as reasons for the measure.
- The Brent crude oil price is around US$ 104, about 60% higher than a year ago.
- The measure aims to prevent the population from fully bearing the effects of high international oil prices.
- The government claims additional revenue from higher oil prices helps fund these measures.
- Minister of Planning Bruno Moretti noted continued pressure on the fuel market due to the Middle East conflict.
- The Ministry of Mines and Energy assures sufficient diesel supply for October.