Global governments adopt emergency measures, such as subsidies and the use of strategic reserves, to contain the rise in Brent oil, which reached US$119 after attacks in the Middle East. The actions aim to curb inflation and guarantee fuel supplies in the face of economic instability.
What measures did Brazil and the United States take?
The Brazilian government announced exemption from federal taxes (PIS and Cofins) on diesel and subsidies for producers. In the United States, the Donald Trump government is considering using strategic oil reserves and even easing restrictions on Iranian and Russian products to increase global supply and lower prices at the pump, which have reached record levels.
How are Argentina and other South American neighbors reacting?
Unlike other neighbors, Argentina has avoided direct price interventions, with President Javier Milei suggesting that the increase could even favor the country’s exports. Chile uses a stabilization mechanism to assume part of the cost variations, while Ecuador limits monthly adjustments to a ceiling of 5% to avoid abrupt shocks to consumers.
Why is Asia being considered the most affected region?
Asia relies heavily on oil from the Middle East. In the Philippines, working hours have been reduced to save energy. China has banned exports of refined fuels and uses domestic stocks. Japan, on the other hand, resumed heavy subsidies and released strategic reserves to try to prevent the rise in the price of food and electricity.
What are countries with few reserves like Pakistan doing?
Nations in the most critical situation adopt drastic consumption measures. Pakistan has cut fuel use in official vehicles in half and encouraged remote work. Countries such as Sri Lanka and Bangladesh have implemented strict rationing and even placed fuel facilities under military control to prevent protests and guarantee essential supplies.
What is the situation in Europe and the risk from the Strait of Hormuz?
In Europe, prices rose by up to 14% in countries like Germany. Governments are discussing limiting the frequency of job adjustments and offering financial assistance to families. The biggest global fear is the closure of the Strait of Hormuz, a vital channel through which much of the world’s oil passes; If the flow is interrupted, the current price crisis could turn into a widespread shortage of product.
Content produced based on information gathered by the Gazeta do Povo team of reporters. To access the full information and delve deeper into the topic, read the report below.
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