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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.

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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.

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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.

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International

Top U.S. Military Commander Meets Interim Venezuelan Leaders After Maduro’s Capture

The commander of the United States Southern Command, Marine Francis L. Donovan, visited Venezuela on Wednesday, holding meetings with interim leaders following the recent capture of former President Nicolás Maduro by U.S. forces. The visit, confirmed by both U.S. and Venezuelan officials, marked a significant diplomatic and security engagement in Caracas.

Donovan, accompanied by senior U.S. officials including acting Assistant Secretary of Defense Joseph M. Humire and top diplomat Laura Dogu, met with acting President Delcy Rodríguez and key members of her cabinet, including Defense Minister Vladimir Padrino López and Interior Minister Diosdado Cabello.

According to official statements, discussions focused on strengthening bilateral cooperation on regional security issues, including efforts to combat illicit drug trafficking, terrorism, and migration. Both sides reiterated a commitment to pursuing diplomatic engagement and shared security goals for Venezuela and the Western Hemisphere.

The meetings also discussed progress on a three-phase plan supported by the United States to help stabilize Venezuela, following Maduro’s removal from power and subsequent detention in the U.S. on drug-related charges. This agenda reflects expanding U.S. engagement with Venezuela’s interim government amid broader efforts to restore diplomatic relations and address regional challenges.

The visit concluded on Wednesday, underscoring a growing U.S. focus on cooperation with Venezuelan authorities in the aftermath of major political developments earlier this year.

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International

Bayly Says Trump ‘Gets Along Better With Dictators’ and Criticizes U.S.–Venezuela Policy

Peruvian author and journalist Jaime Bayly said Tuesday in Madrid that U.S. President Donald Trump “gets along better with dictators than he does with democrats” and that his administration is experiencing “a honeymoon with the Venezuelan dictatorship,” according to a report on his remarks during the launch of his new novel Los golpistas (Galaxia Gutenberg).

Bayly made the comments while presenting the book, which reconstructs the turbulent three days in April 2002 when Venezuelan leader Hugo Chávez briefly lost power. He also sharply criticized the current Venezuelan leadership, saying that Delcy Rodríguez should be recognized as a dictator and “a continuation of Maduro’s dictatorship.”

The writer lamented that the failed 2002 coup — which he described as carried out by “amateurs” — did not lead to free elections that might have restored democracy to Venezuela. He argued that, even now, U.S. policy under Trump seems more focused on securing access to Venezuelan oil than on supporting Venezuelans’ freedom. “Venezuela could have chosen a free, clean and legitimate government — which we still impatiently await despite Trump, who only seems interested in freeing Venezuelan oil, not Venezuelans,” Bayly said.

Bayly also claimed that “every day that passes, Trump seems more enchanted with Delcy,” suggesting that Washington might leave Venezuelan leaders in power so long as they cooperate on economic interests.

A U.S. citizen who has lived in Miami for decades, Bayly said he is proud never to have voted for Trump, whom he described as “servile with the powerful and cruel with the weak.” He also criticized U.S. immigration enforcement as abusive.

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Regarding the book’s creative process, Bayly said he combined extensive documentation and interviews with historical events, weaving fictional dialogue and narrative into real episodes without altering core facts. Los golpistas explores why the April 2002 coup attempt against Chávez failed and how key figures such as Chávez and Cuban leader Fidel Castroshaped modern Venezuelan history.

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International

Maduro and Cilia Flores Receive Consular Visit in U.S. Jail Ahead of March 26 Hearing

Venezuelan President Nicolás Maduro, who is detained in the United States, and his wife, Cilia Flores, received a consular visit from a Venezuelan government official on January 30 while they remain in a New York jail awaiting their next court appearance, scheduled for March 26, 2026, according to a court filing.

The notification, submitted to the judge by prosecutors and the defense and now part of the digital case file, states that Maduro and Flores were visited by “an official representing the Republic of Venezuela to help facilitate any services the accused needed.”

The document also notes that U.S. District Judge Alvin Hellerstein ordered the U.S. prosecutor’s office at the couple’s first court appearance on January 5 to ensure they had access to consular services and to inform the court when such access was provided.

Their next hearing was postponed by the court from an original date of March 17 to March 26 at 11:00 a.m., after prosecutors, with the consent of the defense, requested extra time to gather evidence, allow the defense to review it, and determine which pretrial motions they will file, the filing says.

Maduro has denied wrongdoing, calling himself “innocent” of the narcotics charges authorities have brought in federal court.

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