Congress Sees Very Few Available Options for Reducing the Price of Gas

06/04/2018 - 12h33

In the aftermath of the truckers' strike, congressional leaders are saying that they cannot conceive a scenario in which the gasoline, ethanol and cooking gas prices will begin to fall for consumers.

According to the presidents of the Senate, Eunício Oliveira (MDB-Ceará) and the Chamber of Deputies, Rodrigo Maia (DEM-Rio de Janeiro), there is very little wiggle room for budgetary maneuvers.

In addition, they have pointed out that the government is bound by the regulations contained in the Fiscal Responsibility Law and the constitutional spending cap.

Mr. Maia believes that the only available option would be to resort to a fluctuating tax rate that could mitigate increases in the price of oil. While such a policy could help soften price swings, it wouldn't do much to alter the overall trend.

This measure has received the support of the Ministry of Mines and Energy. In order to make headway, a meeting between members of the ministry, finance specialists and the National Petroleum Agency has been scheduled for Monday (the 4th).

Translated by THOMAS MATHEWSON

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