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The President of Brazil Jair Bolsonaro Spoke Again About the Pandemic and the Impacts on the National Economy. He Also Stated That the Price of Gasoline in Brazil is Among the Cheapest in the World, Ignoring the Current Situation of the Brazilian Market.
The national holiday of Independence Day was marked by new controversies involving President Jair Bolsonaro. During his speech at the Ministries Esplanade last Wednesday (09/07), the leader made some comments about the economy and the national market. He also pointed out the issue of fuel prices in the country and said that Brazil has one of the cheapest gasolines in the world.
Comments from President Bolsonaro Ignore the Current Situation of the Economy in the Brazilian Market, Which is Not Favorable
The participation of the president of the republic in the speech at the Ministries Esplanade during this holiday was marked by great illusions about the current situation of the Brazilian economy, which is facing a crisis scenario.
Leader Jair Bolsonaro claimed that the country is growing in terms of its economic data, emphasizing issues such as job creation, inflation control, and low fuel prices.
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The rise in oil prices could ensure an extra revenue of R$ 100 billion for the Federal Government, indicates a recent economic study.
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Naturgy begins an investment of R$ 1.6 million to expand the gas network in Niterói and benefit thousands of new residences and businesses.
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A major turn in the Justice system suspends tax increases and directly impacts oil and gas companies in Brazil by affecting costs, contracts, and financial planning, leaving uncertain what could happen to the sector if these costs had increased.
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Brava Energia begins drilling in Papa-Terra and Atlanta and could change the game by reducing costs in oil while increasing production and strengthening competitiveness in the offshore market.
Despite the president’s statements, the national territory still faces a delicate and serious moment for the poorest population, given that Brazil has returned to the hunger map and the market is highly unstable.
In addition, the price of gasoline was highlighted as one of the cheapest in the world, ignoring the scenario of instability and problems with the state-owned company Petrobras regarding fuel.
“Brazil is emerging with a thriving economy and one of the cheapest gasolines in the world. It has a record of job creation and plummeting inflation,” claimed Bolsonaro, adding that the country respects private property and “fights corruption for real.”
Bolsonaro continued to comment on the national economy at the initial moment of the pandemic and said that the country went through serious difficulties.
However, he complained about the “wrong stay-at-home policy,” once again contradicting recommendations from scientists who advocated for social isolation.
Finally, he reported that gasoline and the prices of other fuels in the country also suffered consequences from international geopolitical problems, with the war between Ukraine and Russia.
Gasoline Prices Are Falling in the National Market, but Do Not Reflect the Positive Scenario That the President Presented in His Speech
The Brazilian fuel market has been going through severe moments of instability throughout 2022, amid issues of international prices and conflicts between Petrobras and the Federal Government.
Now, the scenario is stabilizing, as the average price of gasoline fell by 0.8% at gas stations in Brazil in the first five days of September compared to the average at the end of August.
At the beginning of this week, the price of fuel was R$ 5.46 per liter, the survey informed, including a 7% cut by Petrobras that went into effect on the last day of 2.
Additionally, the average reduction in the price per liter reached 12.21%, about R$ 0.76 less in the amount passed on to consumers.
Thus, it is indeed possible to observe a moment of positivity regarding the future scenario of fuels in the national territory, with prospects for improvement for the end consumer.
However, the scenario is still not as favorable for the end consumer as President Bolsonaro claimed during his speech, and there is still a long way to go for further improvements.
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