Economy

Petrobras cuts gasoline, diesel prices in Brazil

Fuel hikes had sparked protests across the country

Vitor Abdala

Published on 23/05/2018 - 18:14

Rio de Janeiro

Brazil’s state-controlled oil giant announced the reduction in gasoline and diesel prices at its refineries for the second day in a row today (May 23). The price of gasoline is set to slip 0.62% tomorrow (24).

In two days, accumulated falls reached 2.69% for gasoline, 2.67% for diesel. Nonetheless, gasoline underwent total hikes of 12.95% in May, and 16.76% in 30 days. Increases for diesel add up to 9.34% in May, and 15.16% in 30 days.

High fuel prices are the main reason for countrywide rallies staged by truck drivers, which started late on Monday evening (20).