May 18, 2018 / 5:05 PM / in 5 months

Brazil weighs tax cuts to reduce fuel costs, minister says

RIO DE JANEIRO, May 18 (Reuters) - The Brazilian government is discussing possible tax cuts to reduce the price of fuel at pumps, the country’s energy minister, Moreira Franco, said on Friday.

Prices of diesel and gasoline have surged in Brazil as state-controlled oil company Petrobras passed on recent increases in global crude prices.

Moreira said fuel prices were “too high” and there was a need to discuss the issue. (Reporting by Rodrigo Viga Gaier; Editing by Bernadette Baum)

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