Business Brazil

Brazil Extends Its Gasoline Subsidy as Oil Tops US$100

By Matias Sebastian Lopez · July 24, 2026 · 3 min read

Business

Key Facts

—The extension. The Finance Ministry extended the R$0.44 (US$0.09) per liter gasoline subsidy for 30 days from July 26.

—The reason. To cushion Brazilian drivers from a jump in oil prices after Brent crude topped US$100.

—The history. The subsidy had been in place since May 25 and was due to expire on July 25.

—The diesel side. A separate R$1.12 (US$0.22) per liter diesel subsidy stays in place until September 16.

—The signer. Finance Minister Dario Durigan signed the extension.

With oil back above US$100, Brazil is keeping a lid on pump prices a little longer. The government extended its gasoline subsidy of R$0.44 (US$0.09) a liter for another 30 days.

Gas station fuel pump — A fuel pump at a gas station. (Photo: Wikimedia Commons)

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When global oil prices spike, they feed quickly into Brazilian fuel pumps. To blunt that, the government has been subsidizing gasoline, and it just decided to keep doing so.

The Finance Ministry extended the support rather than let it lapse.

What Was Extended

The subsidy of R$0.44 (US$0.09) per liter of gasoline, in place since late May, will run for another 30 days from July 26 instead of expiring on July 25.

Finance Minister Dario Durigan signed the measure, which the ministry tied to the recent surge in oil prices as Brent crude climbed past US$100 amid Middle East tensions.

Diesel Too

Alongside gasoline, a larger subsidy of R$1.12 (US$0.22) per liter of diesel remains in force, with validity through September 16.

Diesel matters especially for freight, so keeping its price in check helps limit knock-on effects across the wider economy.

Live Market IntelligenceBrazil — Live Market BoardInside: market breadth, the sector heatmap, currencies & rates, the Latin America scoreboard and the full instrument board.

Rio Times · Live Market Intelligence

Brazil — Live Market Board

B3 · São Paulo
Jul 24, 2026 · 08:06

Ibovespa · benchmark

176,723.62
-0.46%

+30.55% over 12 months

Market breadth · 13 names

23% advancing

3 ▲ advancing10 declining ▼

Currencies, rates & key inputs

USD / BRL

5.09

+0.14%

EUR / BRL

5.79

+0.17%

Selic rate

14.25%

·

Brent crude

92.05

-8.58%

Iron ore

161.91

·

Sector heatmap · average move today

Energy

+1.08%

PETR4, PRIO3

Mining

-0.24%

VALE3, CSNA3, GGBR4

Materials

-0.54%

SUZB3

Utilities

-1.04%

ENEV3

Financials

-1.11%

ITUB4, BBDC4, BBAS3, B3SA3

Industrials

-1.15%

WEGE3, RENT3

Consumer Staples

-1.30%

ABEV3

Consumer Disc.

-4.27%

AZZA3

Latin America scoreboard

IndexLastTodayStrength

IbovespaBrazil
176,723.62
-0.46%

S&P/BMV IPCMexico
66,247.47
-1.56%

S&P IPSAChile
10,916.70
-0.84%

S&P MERVALArgentina
3,319,522
+0.00%

MSCI COLCAPColombia
2,283.28
-0.60%

BVL S&P PerúPeru
57,575.02
—

Full instrument board

Instrument	Last	Change	YoY	Prev.	High	Low	Volume
IBOV	176,723.62	-0.46%	+30.55%	177,547.57	—	—	—
USD/BRL	5.09	+0.14%	-7.71%	5.08	5.09	5.07	—
SELIC	14.25%		—	—	—	—	—
PETR4	42.95	+0.87%	+34.26%	42.58	43.49	42.86	25,169,000
VALE3	75.68	+0.77%	+31.80%	75.10	77.07	74.51	15,786,300
ITUB4	42.56	-0.79%	+23.87%	42.90	42.87	42.27	22,565,100
BBDC4	18.72	-1.32%	+17.88%	18.97	18.99	18.68	19,154,400
BBAS3	20.93	-0.76%	+3.56%	21.09	21.08	20.78	18,427,800
B3SA3	15.65	-1.57%	+16.88%	15.90	15.82	15.48	41,084,700
ABEV3	15.92	-1.30%	+17.14%	16.13	16.11	15.84	18,905,100
WEGE3	45.67	-2.29%	+20.15%	46.74	46.86	44.68	13,581,200
PRIO3	60.54	+1.29%	+42.55%	59.77	61.35	60.54	6,347,300
SUZB3	42.43	-0.54%	-18.01%	42.66	42.82	41.78	2,360,100
RENT3	37.14	+0.00%	+2.51%	37.14	37.19	36.03	13,206,600
AZZA3	17.05	-4.27%	-54.07%	17.81	17.71	17.03	2,368,800
CSNA3	5.30	-1.49%	-39.57%	5.38	5.61	5.30	12,053,100
GGBR4	24.06	+0.00%	+39.72%	24.06	24.41	23.83	7,631,200
ENEV3	25.70	-1.04%	+83.70%	25.97	25.80	25.45	3,301,300

Largest moves today

AZZA3
17.05
-4.27%

WEGE3
45.67
-2.29%

B3SA3
15.65
-1.57%

CSNA3
5.30
-1.49%

BBDC4
18.72
-1.32%

ABEV3
15.92
-1.30%

PRIO3
60.54
+1.29%

ENEV3
25.70
-1.04%

The session read

The Ibovespa eased 0.46%, with breadth negative — 3 of 13 names higher. Energy led, while Consumer Disc. lagged.

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Why It Matters

Fuel subsidies protect households and businesses from price shocks, but they carry a fiscal cost, a tension every government faces when oil rallies.

For now, Brasília has chosen to absorb some of the oil spike rather than pass it fully to drivers, a calculation it will revisit in 30 days.

Frequently Asked Questions

What did Brazil extend?

The Finance Ministry extended a gasoline subsidy of R$0.44 (US$0.09) per liter for 30 days from July 26, instead of letting it expire on July 25.

Why was the subsidy extended?

To shield Brazilian drivers from rising fuel prices after Brent crude topped US$100 amid Middle East tensions.

Is diesel also subsidized?

Yes. A separate subsidy of R$1.12 (US$0.22) per liter of diesel remains in place, valid until September 16.

Sources

Connected Coverage

Sources: Finance Ministry; Finance Minister Dario Durigan.

In depth

Oil and energy in Latin America 2026

Brazil Extends Its Gasoline Subsidy as Oil Tops US$100

Daily Brief

What Was Extended

Diesel Too

Brazil — Live Market Board

Why It Matters

Frequently Asked Questions

What did Brazil extend?

Why was the subsidy extended?

Is diesel also subsidized?

Sources

Connected Coverage

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