LatinNews Daily - 07 April 2026

*Brazil’s President Luiz Inácio Lula da Silva has signed a new raft of legislation, including various decrees, aimed at shielding consumers and businesses from the impacts of high fuel prices resulting from the ongoing conflict in the Middle East. Last month Lula had already signed a ‘medida provisória’ (MP) decree to implement measures such as tax cuts and subsidies. Yesterday (6 April) Lula signed another MP to subsidise diesel imports by R$1.20 (US$0.23) per litre, as well as subsiding imports of liquified petroleum gas by R$850 per tonne. The new MP also orders subsidies of R$0.80 per litre to finance national diesel production and the removal of the PIS/Cofins federal taxes on biodiesel. Lula’s latest series of measures also include efforts to support the aviation sector, with new credit lines totalling R$9bn for Brazilian airlines and a zero tax rate on PIS/Cofins for airplane fuel.

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