President Luiz Inácio Lula da Silva’s government moved to shield Brazilian consumers from surging global oil costs on Wednesday, signing a decree and Provisional Measure (MP) that dramatically expand federal fuel subsidies just weeks ahead of a pivotal presidential election. The measures, which took effect immediately, include a reduction of R$0.63 per liter of federal PIS/Cofins taxes on gasoline, leaving a residual tax of R$0.16/liter, and authorize a separate R$1.00 per liter subsidy for diesel. The move comes on the same day that the price of Brent crude oil—the international benchmark—briefly surpassed $100 per barrel for the first time since July, hitting $100.45 in early trading.