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Prepare your wallet: gasoline is going to get more expensive.

Who is informing the new president of Petrobras, Graça Foster; the reason for the rise in the price of a barrel of oil, which has already exceeded US$120; the Minister of Mines and Energy, Edison Lobo, confirms the request for an increase made by the state-owned company.

Get ready to spend more: gasoline is going to get more expensive (Photo: PETROBRAS AGENCY)

247 - Brazilians can already start planning for an increase in fuel prices. The groundwork was laid in two interviews this Sunday: one with the president of Petrobras, Graça Foster, in Folha de S. Paulo, and another with the Minister of Mines and Energy, Edison Lobão, in Estado de S. Paulo. The reason given is the rise in international oil prices.

Speaking to Folha, Graça made her point clear: “Everything has a limit. You can’t assume that oil goes from US$80 to US$120 and that the costs for the goods and services industry don’t keep pace with that price,” she said. “It’s inevitable that we have to adjust fuel prices.”

However, she did not give a deadline for the readjustment. "I don't want to anticipate a deadline, whether it's in three months or a month." To the Estado de S. Paulo newspaper, however, the Minister of Mines and Energy, Edison Lobão, said that Petrobras has already requested a readjustment. "Graça Foster has already requested it," he said. "The balance has two sides. On one side, there is the legitimate interest of Petrobras. On the other, the legitimate interest in containing inflation."

At the top of the goal

The problem pointed out by Lobão makes sense. The Central Bank is already operating practically at the top of its 6,5% target, considering the two-point tolerance margin. And one of the instruments used to contain inflation has been the high interest rate, which contributes to the appreciation of the real – a factor that, in turn, reduces the competitiveness of industry. In a meeting with business leaders last week, Dilma heard that the appreciation of the real is one of the main obstacles to be overcome by national industry.