Eduardo Bolsonaro appears in an old video criticizing gas prices

Video of the Federal Representative Eduardo Bolsonaro (PSL-SP), 2016 is spreading fast on the Internet. All because the congressman appears on a site in the United States protesting alongside a woman over the price of a liter of gasoline in Brazil, which at the time was about 2.50 Brazilian reals. Currently, a liter of fuel costs around BRL 7 in some Brazilian states such as Rio Grande do Sul and Acre.

Eduardo, one of the president’s sons, said, “Now you are paying for (operation) Lava Jato, there is the corruption of the people who embezzled Petrobras’ money.” Jair Bolsonaro (No party) in the video posted on their official YouTube channel.

The price of regular gasoline has already exceeded 7 US dollars in Rio Grande do Sul and reached 6.99 Brazilian reals per liter in Acre last week, according to a weekly survey by the National Agency for Petroleum, Natural Gas and Biofuels (ANP). The average exercised rate across the country, R$5,866, increased by 0.22% between August 8 and 14 (latest available data) and accumulated an increase of 0.60% in the month. For experts, the dollar has a significant impact on this behavior, but other factors influence it as well.

Oil derivatives rise the lower the exchange rate (that is, the real is cheaper) and the price per barrel increases, explains the director of the Brazilian Center for Infrastructure (CBIE), Adriano Perez. Yesterday, the dollar in cash closed at 5.3848 Brazilian Real, and Brent oil in London for October closed at 65.18 US dollars per barrel. “We are living in an electoral period and there is a lot of confusion in the government. I think the pressure will continue through the exchange rate,” he said.

In the composition of the price of gasoline, the share of Petrobras It is the largest at 32.9%. The company held 98% of the refining market through 2019, when the Administrative Council for Economic Defense (KED) committed to selling half of its refineries. At the moment, the only thing that has actually been sold is the Bahia Fund, which has remained with Mubadala, the UAE’s sovereign fund.