RIO DE JANEIRO, BRAZIL - President Jair Bolsonaro on Sunday, December 5, said that Petrobras will begin announcing a string of fuel price reductions, starting this week. However, the President did not announce the percentage reduction or deadlines.
The rise in fuel prices has been one of the main drivers of inflation, which has now enered double digits over the past 12 months and is an economic challenge for Bolsonaro's administration.
In addition to affecting the President's popularity, inflation has also been causing unrest among mayors. They complain that they are being pressured to readjust public transportation fares. Therefore . . .