Brazil Expands Fuel Tax Cuts, Subsidies as Iran War Carries On

Brazil’s government will expand federal tax cuts and subsidies on fuels as it attempts to shield consumers from rising prices due to the war in Iran, broadening measures it had previously unveiled amid the conflict.

President Luiz Inacio Lula da Silva’s administration will temporarily eliminate so-called PIS/Cofins taxes on biodiesel and aviation fuel, while also subsidizing local diesel production and the import of cooking gas, Finance Minister Dario Durigan told reporters Monday.

The measures are part of a broader package Lula’s economic team unveiled as it tries to blunt the effects of a war that is now in its ...