Brazil to Subsidize Gasoline as Lula Ramps Up Election Stimulus

Brazil’s government announced additional fuel subsidies to cushion the impact of the Iran war on inflation and help support President Luiz Inacio Lula da Silva’s popularity ahead of this year’s election.

The government plans to spend as much as 2.9 billion reais ($580 million) per month to subsidize gasoline and diesel, whether produced domestically or imported, according to Planning Minister Bruno Moretti.