Brazil Cuts Fuel Tax to Offset Oil Price Surge as Iran War Rages On

Brazil’s government is moving to shield consumers from surging oil prices worldwide by cutting federal taxes on the import and sale of fuels, while introducing a levy on crude oil...

By Beatriz Reis, Daniel Carvalho, Martha Viotti Beck · Bloomberg Markets

Brazil’s government is moving to shield consumers from surging oil prices worldwide by cutting federal taxes on the import and sale of fuels, while introducing a levy on crude oil exports to offset the revenue loss.