LatinNews Daily - 21 September 2026

*The board of Brazilian state-controlled oil company Petrobras has formally approved its adherence to the diesel subsidies programme implemented by the government of President Luiz Inácio Lula da Silva. In recent weeks the Lula administration has decreed a raft of measures to support diesel producers and importers impacted by global fuel price shocks resulting from the conflict in the Middle East. According to a Petrobras statement, the company will adhere to the subsidy established by the ‘medida provisória’ (MP) decree that came into force on 11 September, which entails a subsidy of R$1.00 (US$0.19) per litre of ‘diesel A’ – the type of diesel produced by Petrobras which is not mixed with biofuels and is normally used for trucks and freight transport.