International
Brazil’s Petrobras hikes prices, ignoring Bolsonaro
AFP
Brazilian state-run oil company Petrobras announced hefty increases in gasoline and diesel prices Thursday in response to the Ukraine crisis, ignoring President Jair Bolsonaro’s criticism of what he calls excessive prices.
Petrobras said it would raise the price of gasoline from its refineries by 18.8 percent and diesel by 24.9 percent from Friday, citing the “worldwide surge in the prices of oil and oil derivatives as a result of the war between Russia and Ukraine.”
The company said the move was in line with increases by other fuel suppliers, and emphasized that it had not raised prices in nearly two months.
But the move will likely irk the far-right president, who has been trying to rein in surging fuel prices and inflation more broadly, phenomena which are hurting his popularity as he gears up to seek reelection in October.
Bolsonaro, who regularly criticizes Petrobras for high prices, said Monday the company’s policy of parity with international prices “cannot continue.”
Petrobras shares dove more than seven percent following the comment.
That echoed a stock plunge of more than 20 percent just over a year ago, when Bolsonaro changed Petrobras’s chief executive after saying the company should not be constantly “surprising people” with price increases.
Bolsonaro is pushing for Congress to pass legislation to bring fuel prices down, though experts say the short-term impact would be minimal.
He is also reportedly looking at decreeing emergency subsidies to lower prices.
Both measures are unpopular with fiscal conservatives.
Surging prices in Brazil, where the annual inflation rate stands at 10.38 percent, are a weak spot for Bolsonaro as he eyes a tough reelection battle in seven months, likely against leftist ex-president Luiz Inacio Lula da Silva.
The international oil market has been rocked by volatility since Russia invaded Ukraine two weeks ago.
The Brent crude price hit a peak of $139 a barrel Monday, a 14-year high, before falling to around $116 Thursday.
International
Rush for Air Conditioners Sparks Tensions at French Supermarkets Ahead of New Heatwave
Scenes of long lines, overcrowded stores and customer disputes unfolded across France on Thursday as shoppers rushed to buy air conditioners and fans ahead of another expected heatwave.
The buying frenzy comes as the country continues to recover from last week’s extreme temperatures, which exceeded 40°C (104°F) in several areas and produced the warmest night on record, with an average temperature of 22°C (71.6°F). Authorities have linked the heatwave to at least 1,000 excess deaths.
Demand for cooling appliances has surged in recent days, prompting heavy traffic at appliance retailers. The situation intensified on Thursday when German discount supermarket chain Lidl launched a promotion on portable air conditioners and electric fans.
Videos shared on social media showed large crowds gathering outside stores, with customers pushing and rushing to secure the discounted products.
“Lidl France regrets the incidents that occurred in its stores,” the company told AFP, adding that employees were forced to manage tense situations in what it described as a challenging environment.
Outside a Lidl store in northwestern Paris, dozens of customers began lining up as early as 7:00 a.m., two hours before opening, while police monitored the crowd, according to an AFP journalist at the scene.
Although many shoppers remained in good spirits, tensions escalated as some people attempted to cut in line. “I will not open the store until they leave,” a store manager reportedly shouted as frustrated customers protested.
The situation worsened after customers discovered that the store, located in a working-class district of Paris, had only two air conditioning units available for sale.
One of the successful buyers, Lassana, who declined to provide his last name, said he had queued since 4:00 a.m. to secure one of the units.
Another customer, 69-year-old Fatou, was only able to purchase a small fan after what he described as a struggle. He criticized Lidl’s advertising as “misleading,” claiming police had temporarily closed access to the store because of the crowds.
Lidl France attributed the shortages to its fixed annual purchasing cycle, explaining that the promotional products had been ordered a year in advance and were offered at predetermined prices, limiting the available stock.
International
Peru Expands Emergency Measures Ahead of Heavy El Niño Rains
Peru has declared a state of emergency in 796 districts across 22 regions due to the imminent threat of heavy rainfall linked to the El Niño weather phenomenon, the government announced on Thursday.
El Niño, which causes unusually warm sea surface temperatures in the Pacific Ocean, disrupts global wind and rainfall patterns, often triggering extreme weather events. In Peru, the phenomenon has already driven temperatures up to 26 degrees Celsius, around five degrees above the seasonal average.
According to Peru’s National Center for Disaster Risk Estimation, Prevention and Reduction (Cenepred), more than 9.3 million people are at very high risk of flooding and landslides associated with El Niño.
Interim President José María Balcázar signed a decree extending an emergency measure that has been in effect since January, allowing authorities to implement immediate response and recovery actions in affected areas.
Under the decree, regional and local governments, working alongside Civil Defense and supported by national ministries, are authorized to take extraordinary measures to protect communities and critical infrastructure from the expected impacts of heavy rainfall.
“We have declared a state of emergency in 796 districts across 22 regions due to intense rainfall associated with the El Niño phenomenon for a period of 60 days,” the Presidency of the Council of Ministers said in a statement.
Peru is divided into approximately 1,800 municipalities.
The country’s agency responsible for monitoring El Niño recently upgraded its forecast for the phenomenon from moderate to strong for the period between June and September, with conditions expected to persist through the first quarter of 2027.
Scientists at the U.S. National Oceanic and Atmospheric Administration (NOAA) estimate there is a 63% probability of a very strong El Niño developing between November and January, potentially making it one of the most intense events recorded since 1950.
Peru last experienced El Niño in 2023, when flooding and landslides claimed 99 lives.
The country’s most devastating El Niño events occurred in 1997-1998, leaving around 500 people dead and reducing gross domestic product (GDP) by 6%, and in 1982-1983, when approximately 9,000 people died and the economy contracted by 11.6%.
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