Brazil: “Unfortunately, we do not have an understanding with Petrobras,” says Bolsonaro

RIO DE JANEIRO, BRAZIL – The President of the Republic, Jair Bolsonaro, said on Wednesday, June 8, that the federal government will collaborate to contain the rise in fuel prices but that there is not yet an “understanding” with Petrobras on pricing policy.

During lunch with business people at the Commercial Association of Rio de Janeiro (ACRJ), in the center of the state capital, the president also repeated that the government intends to zero the Federal Social Contributions on Gross Revenues (‘PIS and COFINS’) on gasoline and ethanol.

Bolsonaro also cited the bill approved in the House of Representatives that limits the rate on state-level sales tax ICMS on fuels up to 17% as one of the measures that will help contain the rise in prices.

The text is pending a vote in the Senate that has been under pressure from governors.

“We must collaborate in a difficult moment like this. Unfortunately, we don’t have an understanding with Petrobras. The big oil companies have lowered their profit margin. Here, the opposite is done,” said the president.

Bolsonaro also said he would not interfere in Petrobras’ pricing policy, “as the leftist Workers party PT interfered when it was in power.”

With information from Estadão