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State-owned oilgiant Petrobras at crossroads in Brazil’s election year

RIO DE JANEIRO, BRAZIL - Latin America's leading oil company, Petrobras, is at a crossroads.

Conservative President Jair Bolsonaro, on March 28, dismissed General Joaquim Silva e Luna after calling fuel price increases averaging 33% last year a "crime" against the population. "It's unaffordable," Bolsonaro said days before the dismissal.

Something this newspaper can confirm. Brazilians cannot afford these prices.

His main rival in October's elections and favorite in the polls, former leftist President Luiz Inácio Lula da Silva (2003-2010), also promised to fight price escalation caused by the war in Ukraine if he wins.

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