Brazilian president replaces energy minister over fuel price policy

BRASILIA: MAY. 12 – Brazilian President Jair Bolsonaro replaced Mines and Energy Minister Bento Albuquerque on Wednesday, after a series of disagreements regarding fuel price policy, the Official Gazette reported.

Economist Adolfo Sachsida, who was head of the Special Advisory for Strategic Affairs of the Economy Ministry, was appointed the new minister.

Albuquerque had differences with Bolsonaro about the government’s claim that the state-owned oil company Petrobras should contain 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 percent increase 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.

-Xinhua