Brazil weighs policy to cushion impact of oil price spikes in fuel costs

The Brazilian government is studying a mechanism that would cushion the potential impact of spikes in international oil prices on local fuel prices, energy minister Bento Albuquerque said on Thursday.

The recent surge in oil prices, following events in Iraq, caused Brazil’s President Jair Bolsonaro to call a meeting this week with Petrobras and energy ministry officials to discuss the situation.

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