- Brazil's government may announce a tax increase on gasoline to help meet this year's budget target amid the country's slow economic recovery, Reuters reports.
- Finance Ministry officials are weighing the impact of the potential measure before an official announcement tomorrow, according to the report, which cites a government source.
- The thinking is that gasoline tax increases would have little inflationary impact after successive price cuts by state-controlled oil company Petrobras (PBR +1.9%), and would help ethanol producers become more competitive after years of heavy losses in the biofuel industry.
- ETFs: EWZ, BRF, BRZU, BZQ, EWZS, BRAQ, UBR, BRAZ, DBBR, FBZ
Reuters: Brazil weighing gasoline tax hike
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About PBR Stock
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| Symbol | Last Price | % Chg |
|---|---|---|
| PBR | - | - |
| Petróleo Brasileiro S.A. - Petrobras | ||