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Brazilian President Luiz Inácio Lula da Silva has signed measures to lower fuel prices, just weeks before the presidential election RIO DE JANEIRO -- Brazilian President Luiz Inácio Lula da Silva signed a decree and a provisional measure Wednesday aimed at lowering fuel prices, weeks ahead of the presidential election and as the U.S.-Iran war drives up the cost of filling the tank. The cost of fuel is a particularly sensitive issue for voters, who will decide in October whether to grant Lula a fourth, nonconsecutive term, or elect Sen. Flávio Bolsonaro , a son of former President Jair Bolsonaro. Brent crude, the international standard, surged above the $100 threshold on Wednesday for the first time since July, after attacks on oil facilities and ships in the Middle East threatened to further strain an already weakened supply chain. “We’re not going to allow this irresponsible war to hit your pocket,” said Lula as he signed the measures, which extend policies to control fuel prices introduced at the beginning of the U.S.-Iran war.
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Wednesday’s measures “have a significant electoral component,” according to Armando Castelar Pinheiro, an economics professor at the Federal University of Rio de Janeiro.
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