ANP

Brazil's average diesel price to distributors climbed 40% in early March to R$ 5.36 per liter following intensified US and Israeli attacks on Iran, per ANP data. Pump prices rose 20% by late March. Building on the March 12 federal tax exemption, the Lula administration is pressuring fuel stakeholders to limit consumer pass-throughs and fast-tracking a diesel subsidy ahead of October elections.