September 3, 2018 / 11:48 AM / in 17 days

Brazil transport agency to revise govt-set freight prices

SAO PAULO, Sept 3 (Reuters) - National transport agency ANTT will revise Brazil’s minimum truck freight prices, the regulator said in a statement late on Saturday, without providing details or a time-frame for an announcement of new government-set values.

ANTT said on its website it would “promote the necessary adjustments” after “variations in the price of diesel fuel.”

On Friday, state-run oil company Petroleo Brasileiro SA lifted diesel prices by 13 percent at the refinery gate after oil regulator ANP disclosed a new price benchmark under the government’s fuel subsidy program.

The government decided to subsidize fuel as one measure to end a nationwide truckers strike that crippled the country’s roads for 11 days in May.

President Michel Temer also signed into law a bill authorizing the government to set minimum truck freight prices last month, another of the measures to stop the protests.

But industrial and farm lobbies say the law setting minimum freight prices would raise internal shipping prices.

The new law requires truck freight prices to be equal to, or above, minimum prices set by ANTT. The new policy requires minimum prices be published twice a year, by Jan. 20 and July 20. (Reporting by Ana Mano Editing by James Dalgleish)

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