News Karnataka
Wednesday, September 28 2022

Brazilian Prez replaces Energy Min over fuel price policy

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Brasilia: Brazilian President Jair Bolsonaro replaced Mines and Energy Minister, Bento Albuquerque after a series of disagreements regarding fuel price policy, the Official Gazette reported.

Albuquerque was removed as a sitting Minister on Wednesday.

Economist Adolfo Sachsida, who was Head of the Special Advisory for Strategic Affairs of the Economy Ministry, was appointed the new Minister, Xinhua news agency reported.

Albuquerque had differences with Bolsonaro about the government’s claim that the state-owned oil company Petrobras should curb the increase in gasoline, diesel and household gas prices.

Last week, the publicly-traded company disclosed record profits in the first quarter of the year, 38 times higher than the same period in 2021, followed this week by an announcement of an 8.9 per cent hike in the price of diesel.

The high cost of gasoline, diesel and household gas has put pressure on the prices of other products, generating dissatisfaction with the government and Bolsonaro, who is seeking a second presidential term in the country’s October elections.

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