The price of petrol has increased in most Brazilian states since midnight today, when the collection by local authorities of the Icms, the excise tax on fuels came into force The average increase for petrol is around 5% in 23 of the 27 federal states, including São Paulo, Rio de Janeiro and Minas Gerais. The hardest hit state is Mato Grosso do Sul, where a liter of petrol sold yesterday for 4.94 reais (about one dollar). In three other states there must be a small drop in price and in one state the value will not change. The hikes come after state oil company Petrobras cut its gasoline price by 12% last month. According to analysts’ estimates, the increase implemented today should push inflation up by 0.20% in June. More tax increases are expected in July, as part of the tax collection policy proposed by Finance Minister Fernando Haddad, in compliance with the new tax model approved last week in the Chamber of Deputies.
Source: Ansa
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