- Title: Truckers on strike throughout nation demanding lower gas prices
- Date: 23rd May 2018
- Summary: RIO DE JANEIRO, BRAZIL (MAY 23, 2018) (REUTERS) VARIOUS OF STRIKING TRUCK DRIVERS PARKED ON HIGHWAY CARS FILING THROUGH SIGNS WITH PRICES NEXT TO PETROL STATION MAN POINTING AT STRIKING TRUCK DRIVERS (SOUNDBITE) (Portuguese) TRUCK DRIVER, ANTONIO DA SILVA, SAYING: "I'm in favour (of the strike) because we can't go on (with high diesel prices). Diesel costs $4.00 reais ($1.
- Embargoed: 6th June 2018 15:58
- Keywords: truckers lower gas prices strike
- Location: RIO DE JANEIRO, BRAZIL
- City: RIO DE JANEIRO, BRAZIL
- Country: Brazil
- Topics: Conflicts/War/Peace,Civil Unrest
- Reuters ID: LVA0018H3C5Z7
- Aspect Ratio: 16:9
- Story Text:Brazilian truck drivers protested for the third straight day on Wednesday (May 23) against high fuel prices despite a government compromise to cut a fuel tax, threatening to slow economic activity and interrupt exports of grains and other goods.
Hundreds of trucks were parked to obstruct major roads in Rio de Janeiro as the protests interrupted traffic.
In an effort to address truckers' demands, congressional leaders floated a plan on Tuesday (May 22) afternoon to eliminate the CIDE fuel tax and put additional revenue from payroll taxes toward reducing fuel prices, which have surged nearly 50 percent in less than a year.
Diesel prices ended last week at 3.595 reais ($0.99) per liter, according to regulator ANP. This week a petrol station is Rio was advertising the cost of diesel at $3.99 reais ($1.10).
A small diesel price cut announced on Tuesday by Petroleo Brasileiro SA, or Petrobras, did nothing to reduce protests. But it did raise concerns about interference in a program of near-daily adjustments to track global markets since last July.
That new pricing policy, which has allowed the company to sell fuel at a profit after absorbing losses for years, has been key to the operational turnaround at Petrobras, lifting its share price to an eight-year high this month.
Petrobras Chief Executive Pedro Parente and Finance Minister Eduardo Guardia both denied that the government had asked the company to change its pricing policy on Tuesday.
Petrobras shares fell as much as 3.4 percent on concerns of political interference, but pared losses to 1 percent on news of the proposal to lower pump prices through tax policy. - Copyright Holder: REUTERS
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