The Brazilian government in coordination with Congress are working on the creation of a price stabilization fund for fuels in an attempt to isolate the country from the volatility of international prices of oil and refined products. The fund is to be financed mainly with a tax on oil exports, helping with stability to domestic prices of gasoline, diesel and liquid gas.
Brazil's National Petroleum Agency, ANP, temporarily reduced the volume of biodiesel blended with diesel sold at the pump to 10% from 12% for the next five days in an emergency move, the country's lead regulator for the oil and natural gas industry said Tuesday.
Argentine state-run oil company YPF has already seen a drop in energy consumption because of a nationwide mandatory quarantine over the coronavirus announced last Friday, a company executive said in an internal video obtained by La Nacion on Tuesday and confirmed by the company.
Brazil increased the volume of biodiesel blended with diesel sold at the pump to 12% from 11% on Sunday, the latest increase to a biofuels mandate that aims to decrease Latin America's largest economy's dependence on imported barrels.
Britain will ban the sale of new petrol, diesel and hybrid cars from 2035, five years earlier than planned, in an attempt to reduce air pollution that could herald the end of over a century of reliance on the internal combustion engine.
Madrid has activated an anti-pollution order that significantly restricts private vehicles in the city center, including a total ban on the most polluting cars.