Brazilian Truckers’ Strike May Shape Presidential Election
Brazil’s state-owned oil company Petroleo Brasileiro SA announced a 10 percent cut in the price of diesel, in an effort to end a three-day nationwide truckers’ strike that has wrought havoc on Latin America’s largest economy. Petrobras Chief Executive Officer Pedro Parente disclosed the last-minute decision at a press conference in Rio de Janeiro Wednesday night, saying the prices would be kept unchanged for 15 days to allow the government some time for a resolution to the dispute over fuel prices. The strike reflects more widespread anger over soaring fuel prices in a nation just barely recovering from its worst recession on record.