Brazil fuel subsidies to cost around 6.8 billion reais ($1.3 B) a month, minister says

Brazil's fuel-price subsidies will cost an estimated 1.3 billion reais ($256 million) a month for gasoline and 5.5 billion reais for diesel, Planning and Budget Minister Bruno Moretti said on Friday.

• Speaking at a press conference on the government's fiscal projections, Moretti said the measures were temporary and would be withdrawn once market conditions normalized.

• Brazil currently provides a subsidy of 1.12 reais per liter of diesel, valid for 60 days, and a benefit of 0.44 reais per liter of gasoline, which will remain in place for just over 30 days.

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