LatinNews Daily - 15 July 2026

*Brazil’s government has temporarily increased the obligatory proportion of ethanol in gasoline from 30% to 32%, marking another measure aimed at mitigating the impact of global fuel price shocks caused by the conflict in the Middle East. Valid for 180 days with the possibility of extension, the measure aims to reduce Brazil’s dependence on imported fossil fuels. The government estimates that the decision to raise the ethanol composition of gasoline could eliminate the need to import 900m litres of gasoline per year. Speaking at a press conference yesterday, Brazil’s minister for mining and energy, Alexandre Silveira, said that the increased proportion of ethanol is expected to lower the price of gasoline by R$0.03 (US$0.01) per litre.