Fuel Prices Rise with Inflation in Brazil

By Dorien Boxhoorn, Contributing Reporter

RIO DE JANEIRO, BRAZIL - While Petrobras is launching its largest investment program in the oil exploration and production industry yet, the fuel prices continue to rise steeply in Brazil. These high fuel prices have been adding to Brazil’s already increasing inflation, and in an attempt to keep the inflation under control the government has reduced the CIDE tax on gasoline sales.

Inflation has been a problem for the Brazilian economy this year. Antonio Henrique Silveira . . .

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