Brazil truckers suspend strike, government to subsidize diesel prices

Brazil’s government struck a deal with truck drivers on Thursday to suspend a four-day protest that crippled swathes of the Latin America’s largest economy, promising changes to diesel pricing that could leave it footing a 5 billion reais ($1.37 billion) bill this year.

The accord could leave the government with a bill of up to 5 billion reais a year to compensate state-led oil company Petroleo Brasileiro SA for any losses under a scheme to stabilize prices, according to government ministers.

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