SAO PAULO (Reuters) – Brazilian President Jair Bolsonaro on Thursday urged state-run oil firm Petrobras not to increase native fuel costs once more, and in contrast the corporate’s revenue margins to a “rape” of the nation.
The far-right chief mentioned throughout a weekly livestream on social media that a new fuel worth hike by Petroleo Brasileiro SA, as the corporate is formally identified, may bankrupt Brazil and trigger what he known as a “nationwide convulsion”.
Petrobras pegs its fuel costs to worldwide crude quite than subsidizing fuel for Brazilians, however many individuals have demanded that it limits worth will increase for gasoline and diesel as each have soared not too long ago, hurting Bolsonaro’s reputation forward of an October presidential election.
Petrobras was not instantly obtainable to remark.
(Reporting by Gabriel Araujo; Editing by Leslie Adler and Lincoln Feast.)
