Brazil’s state-run oil company Petrobras is once again in crisis: Caught in a political tug of war over rising fuel costs. Far-right President Jair Bolsonaro, seeking re-election in October, is widely blamed by voters for double-digit inflation, polls show, on the back of skyrocketing fuel prices. Feeling the heat, Bolsonaro last week fired Petrobras CEO Joaquim Silva e Luna, saying the petrol price was “unaffordable” and amounted to a “crime” against Brazilians. Tied to international market movement, fuel prices in Brazil rose 33% in the past year even as the economy recovers from the effects of the coronavirus pandemic. Russia’s war in Ukraine has led to a spike in crude prices in recent
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