Rio de Janeiro-Brazil has cut taxes on gasoline by 8 centavos/liter, or 16 cents/gal, to prevent a reduction in the amount of ethanol in gasoline from driving up pump prices.The government ordered the tax cut, which took effect February 5, to prevent an increase in gasoline prices from driving up the country's inflation rate, a situation that could force the central bank to hike interest rates, the Finance Ministry said on its web site.
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