Chamber of Deputies Finance Committee Will Hold Debate on Fuel Price Increase

Written by Fabio Lucas Carvalho

Published on 30/05/2022 at 18:54

Foto: Marcello Casal jr/Agência Brasil

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Commission Will Discuss on Next Wednesday, June 1, the Increase in Fuel Prices and the Methodology Used by Petrobras to Set Prices

On next Wednesday, June 1, the Finance and Taxation Commission of the Chamber of Deputies will hold a debate on the increase in fuel prices in Brazil. In addition to discussing fuel, the methodology used by Petrobras to raise prices is also on the agenda. The debate comes after a request from Deputy Luis Miranda of the Republicans-DF.

Deputy Luis Miranda highlights the ongoing increases in gasoline prices in the country. Additionally, the deputy also reminded that the National Agency of Petroleum, Natural Gas and Biofuels (ANP) recorded the highest average price since the beginning of the historical series. “Some states report fuel prices at R$ 8.00, as in the Northern region, according to a report aired on Rede Brasil. It is outrageous, a clear disrespect to the consumer who pays their taxes on time,” said Luis Miranda.

See the complete list of guests for the debate in the Chamber of Deputies

ARTICLE CONTINUES BELOW

Fuel Prices Keep the Federal Government Awake at Night

The high price of fuel is a problem that the federal government is trying to alleviate by the end of the year, when President Jair Bolsonaro’s term ends. The government’s plan is to try to approve as many measures as possible that will reduce the price of gasoline and diesel for consumers by the year’s end. In addition, a proposal that provides more transparency on how Petrobras sets gasoline prices is also being reviewed.

Last week, the Chamber of Deputies approved a bill that limits ICMS to 17% on fuels, electricity, telecommunications, and public transportation. “The most important thing is to give a response today to the Brazilian population, which can no longer bear this high cost of living, this anguish of seeing the family budget eroded every week precisely by the price of two significant items: fuel and energy,” said Danilo Freite, the bill’s author.

Limiting ICMS Causes Controversy

On the other hand, the approval of the bill that limits the ICMS is not well viewed by states and municipalities. According to the president of the National Committee of State and Federal District Finance Secretaries (Comsefaz), states and municipalities could lose up to R$ 83 billion a year in revenue. Because of this, states promise to propose an alternative bill.

“We will present an alternative bill to President Rodrigo Pacheco. One of the proposals under discussion is the application of the moving average of the last 60 months for diesel prices to calculate the ICMS base,” said Délcio Padilha, president of Comsefaz.

Chamber of Deputies Finance Committee Will Hold Debate on Fuel Price Increase

Commission Will Discuss on Next Wednesday, June 1, the Increase in Fuel Prices and the Methodology Used by Petrobras to Set Prices

Fuel Prices Keep the Federal Government Awake at Night

Limiting ICMS Causes Controversy

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Chamber of Deputies Finance Committee Will Hold Debate on Fuel Price Increase

Commission Will Discuss on Next Wednesday, June 1, the Increase in Fuel Prices and the Methodology Used by Petrobras to Set Prices

Fuel Prices Keep the Federal Government Awake at Night

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A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

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While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

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