(ANSA) – BRAZIL, 07 JUL – The Brazilian government has established that from today service stations display signs indicating the drop in fuel prices after the reduction in excise duties promoted by the president, Jair Bolsonaro.
The signs must display information in a “correct, clear, precise and legible way – reads the presidential decree published today in the Official Gazette – so that consumers can compare prices”.
The cost of gasoline dropped by an average of 1.6% across the country, according to a report by the consulting firm ValeCard carried out in 25 of the 27 states.
Under a law promulgated by Bolsonaro, each state cannot exceed the 18% ceiling for ICMS, the excise duty on fuels.
The reduction in the price of gasoline was 3.1% in the state of Sao Paulo, the most important and the one with the largest vehicle fleet in the country. This price change, which includes diesel, is a win for the right-wing leader in his strategy to contain inflation less than three months before the election in which he seeks a second term. (HANDLE).