The Brazilian government is considering the possibility of increasing the special tax on fuels, it has been announced.
According to the country's Mines and Energy Minister, Edison Lobao, the additional capital raised by a fuel tax increase would help the government to offset its current revenue losses.
If approved, the measure would work by levying higher taxes on fuel distributors for gasoline sales.
At present, Brazil levies a fixed BRL0.18 (USD0.08) tax on each litre of gasoline. Revenues from the tax declined last year after the government was forced to lower the tax in light of an increase on fuel prices by Petrobas, a state-owned oil company.
Mr Lobao expects a decision on the tax to be made within the next four months.
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