Petrobras raised jet fuel prices by 17.1% at refineries, says Abear

Petrobras announced on Wednesday (1st) to distributors an average readjustment of 17.1% for aviation kerosene (QAV), after having reduced the product by 11.1% in January, informed the Brazilian Association of Airlines. (Abear). Comparing the amount charged for QAV in February 2022, the increase represents an increase of 37.8%, said the entity.

“A recent survey by Abear shows that, in December 2022, the average price of QAV at the pump in Brazil was almost 45% higher than that charged in the United States”, informed Abear.

According to the entity, the high price of QAV remains the biggest challenge for Brazilian airlines, since the input represents about 40% of total costs.

“The volatility of the dollar exchange rate is also worrying, as more than 50% of costs are in dollars. That is why Abear has expanded its dialogue with the Public Power, creating permanent dialogue tables with ministries such as Finance, Ports and Airports, Tourism and with Embratur”, said in a note the president of Abear, Eduardo Sanovicz.