Brazil's Ministry of Finance issued a statement on Thursday saying that due to the escalation of the Middle East conflict, the Brazilian government decided to continue the gasoline subsidy policy of R$0.44 per liter due to the escalation of the Middle East conflict and the increase in international oil prices. Brazil's Ministry of Finance said that the gasoline subsidy, which was originally due to expire on July 25, will be extended for 30 days from July 26. Finance Minister Dario Durigan said in an interview that the funds for this subsidy extension will come from increased government revenue due to higher oil prices, such as oil royalties. The media quoted sources last week as reporting that the Brazilian government had already planned to extend gasoline and diesel subsidies at the time. At the end of June, as tension in the Middle East eased and oil prices fell, the Brazilian government cut some diesel subsidies, but the downward trend in oil prices did not continue. Currently, the diesel subsidy of R $1.12 per litre is still being implemented.

Brazil's Ministry of Finance issued a statement on Thursday saying that due to the escalation of the Middle East conflict, the Brazilian government decided to continue the gasoline subsidy policy of R$0.44 per liter due to the escalation of the Middle East conflict and the increase in international oil prices. Brazil's Ministry of Finance said that the gasoline subsidy, which was originally due to expire on July 25, will be extended for 30 days from July 26. Finance Minister Dario Durigan said in an interview that the funds for this subsidy extension will come from increased government revenue due to higher oil prices, such as oil royalties. The media quoted sources last week as reporting that the Brazilian government had already planned to extend gasoline and diesel subsidies at the time. At the end of June, as tension in the Middle East eased and oil prices fell, the Brazilian government cut some diesel subsidies, but the downward trend in oil prices did not continue. Currently, the diesel subsidy of R $1.12 per litre is still being implemented.