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Bolsonaro says Petrobras profit is “rape” and appeals not to increase fuel so as not to break the country – Money Times

Bolsonaro travels to fulfill his agenda in Mato Grosso do Sul after spending the night in hospital
If you continue to make a profit in this way, increasing the price of fuel, you will break the country… if you have another increase in fuel, you could break Brazil. (Image: Reuters/Adriano Machado)

The president Jair Bolsonaro asked this Thursday to Petrobras (PETR4) to reduce its profit margin, which he considered “absurd” and “rape”, and made a vehement appeal for there to be no further price increases, at the risk of the Brazil to break.

When remembering the strike of truck drivers who stopped the country in 2018, under the government of Michel TemerBolsonaro warned that there could be a “convulsion” if there is a new increase in the price of the diesel.

“We appeal to Petrobras, don’t readjust the price of fuel. You are making an absurd profit”, said the president in the traditional live broadcast by social media.

“It (the company) must have a social function. Petrobras, we are at war. Petrobras, do not raise the price of fuel any more. Your profit is rape, it is absurd, ”she said, emphasizing that she does not interfere with the company.

“If you continue to make a profit this way, increasing the price of fuel, it will break the country… if there is another increase in fuel, it could break Brazil. And the people at Petrobras don’t understand or don’t want to understand, or they’re just looking to make a profit.”

The president also recalled the situation of economic crisis, the war at Ukrainewhich affects the price of a barrel, and taxes levied on fuels as other factors for price increases.

At the same time that Bolsonaro made his appeals to Petrobras, the state-owned company reported a net profit of 44.56 billion reais in the first quarter of the year.

In a statement, the executive president of the state-owned company, José Mauro Coelhostated that the results of the oil company generate “important returns for the shareholder, especially the Brazilian society, represented by the Union”.

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