Brazil's Bolsonaro urges Petrobras not to hike fuel prices, calls its profits margins a 'rape'


  • World
  • Friday, 06 May 2022

FILE PHOTO: Brazil's President Jair Bolsonaro looks on during a ceremony at the Planalto Palace in Brasilia, Brazil May 4, 2022.REUTERS/Adriano Machado

SAO PAULO (Reuters) - Brazilian President Jair Bolsonaro on Thursday urged state-run oil company Petrobras not to raise local fuel prices again, and compared the company's profit margins to a "rape" of the country.

The far-right leader said during a weekly livestream on social media that a new fuel price hike by Petroleo Brasileiro SA, as the company is formally known, could bankrupt Brazil and cause what he called a "national convulsion".

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

South Africa's new MK party seeks majority win in pivotal election, Zuma says
Venezuela opposition candidate says he will guarantee political freedom
Britain's Conservatives trail Labour by 18 points, says Opinium poll
Italian police seize 134 Fiat cars in flag dispute
Chinese proficiency competition held in Lebanese capital Beirut
Feature: Ethiopian, Djiboutian youth realize career dreams in Chinese-built railway
Ukraine investigates civilian injuries, battles rage in Kharkiv region
Feature: Zimbabwean blueberry producers seek access to Chinese market
Ethiopian PM inaugurates China-supported military hospital
Ethiopian Airlines inaugurates Chinese-built terminal, doubling passenger capacity

Others Also Read