UPDATE 1-Brazil Senate committee approves fuel price stabilization bill

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SAO PAULO, Dec 7 (Reuters) - A Brazilian Senate committee approved on Tuesday a bill that would establish a fuel price stabilization fund aimed at bringing down pump prices, to be financed by a new tax on crude oil exports.

The policy, to be regulated by Brazil's executive branch, aims to stabilize rising diesel, gasoline and liquefied petroleum gas (LPG) prices, which have helped push annual inflation into the double-digit range.

The bill will now go to a full Senate vote.

According to the text, the new oil export tax would have four brackets, being zeroed only when Brent crude falls below $45 per barrel and rising to a range of 12.5% to 20% above $100 per barrel.

The stabilization fund would also be able to be financed by dividends paid to the government by state-run oil company Petrobras, funds obtained from oil production sharing contracts and profits from central bank currency interventions.

(Reporting by Roberto Samora and Gabriel Araujo; Additional reporting by Peter Frontini; editing by John Stonestreet)

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