Brazil lifts fuel taxes to ease pain at the pump

President Luiz Inácio Lula da Silva said Thursday his government will suspend two fuel taxes through Dec. 31 to offset rising costs linked to the war in Iran, temporarily cutting diesel prices by 0.64 Brazilian real per liter (about $0.12).

Lula, who is up for reelection, put most of the blame squarely on “the irresponsibility of global wars.”

Finance Minister Fernando Haddad said the priority is preventing diesel price increases, as the fuel underpins Brazil’s supply chain.  — AP