During a visit to the Gabriel Passos Refinery in Betim, Minas Gerais, President Luiz Inácio Lula da Silva emphasized that Brazil holds ownership over Petrobras, not the other way around. He criticized the previous privatization of BR Distribuidora, stating that it serves as an obstacle to effectively implementing measures to manage the rising costs of diesel. As global oil prices continue to escalate, Lula's remarks reflect the government's commitment to maintaining control over its energy sector.

Lula pointed out that while Petrobras operates as a mixed economy company with publicly traded shares, it must recognize its responsibilities to the country's populace. He argued that the government's swift response to potential losses prompted by external factors, such as Trump's actions regarding Iran, showcases a need for strategic management of the oil sector without excessive privatization. The president's comments also underline a broader theme of national interest vs. private enterprise in Brazil's oil industry.

In response to the rising oil prices, the Brazilian government has recently implemented emergency measures, including the elimination of federal taxes on diesel. These measures reflect an urgent need to address economic pressures on Brazilian citizens and businesses alike, amid concerns that privatization and an unchecked private sector could hinder the government’s efforts to stabilize fuel prices and protect consumers.