Roberto Samora, Gram Slattery

SAO PAULO (Reuters] -Truckers who blocked a major Brazilian refinery in Minas Gerais on Friday allowed fuel supplies to resume normalization in the second largest state in Brazil.

Truckers that deliver diesel fuel were the main protestors. They demanded lower diesel tax rates. They had been blocking roads around the REGAP refinery, near Belo Horizonte state capital, since Thursday. This action scared industry leaders as well as motorists, and left some stations in Minas Gerais with low fuel.

As a result of rising global crude oil prices, truckers have been vocalizing their discontent. This has caused diesel to become more expensive domestically and reduced margins. Brazil could be hit hard by a strike of trucker organizations next week if it is not widely recognized.

The truckers’ strike in protest of high fuel prices caused the 2018 economy to stop and decimated the political capital of an already discredited government. Brasilia continues to be attentive to truckers’ demands.

Jair Bolsonaro (previously running for reelection) announced that Brazil would provide 400 Brazilian reais ($70 each) to its 750,000 truckers to offset the rising fuel costs.

Four key Treasury officials resigned shortly after. There were signs that the government was looking to raise a constitutional spending limit, which has harmed local equity markets as well as the real economy.

Bolsonaro spoke in Brasilia Friday to downplay concerns about overspending, saying the total cost of trucker payments would be less than 4 billion Brazilian reais.

Brazil-listed shares of Vibra Energia SA, Ultrapar Participacoes SA, both listed on the NYSE, fell more than 3.5% during afternoon trading. These companies are the national owners of two largest gas station chains in Brazil. The benchmark equities market index dropped 1.1%.