Panel SA: Petrobras announces drop in the price of jet fuel

Petrobras announces this Monday (2) a reduction in the price of QAV (aviation kerosene) for distributors. This is an average drop of 11.6%, which took effect from this Sunday (1st).

The announcement should put pressure on airlines for a relief in ticket prices, however, the industry says it has not hit the hammer on the calculations yet. Fuel price variations are usually felt quickly by the final consumer because the QAV is equivalent to approximately 40% of airline costs, according to the aviation market.

The most recent survey by Anac (National Civil Aviation Agency), released at the end of the year, showed October data with tickets almost 14% more expensive, in real terms, than in the same month of 2019, before the pandemic.

According to Petrobras data, the new monthly readjustment, which brings the second consecutive drop, completes five reductions in the price of jet fuel since July, reaching a 22.5% drop in the period.

“Petrobras commercializes the QAV produced in its refineries or imported only for the distributors. The distributors, in turn, transport and commercialize the products for the air transport companies and other final consumers in the airports, or for the resellers”, says the Petrobras in note.

At the turn of last year, the airline industry had more positive news on another front. Shortly before Christmas, came the provisional measure that, if converted into law, zero PIS and Cofins rates on the revenue of companies in passenger transport until the end of 2026. However, it was also not clear whether the benefit can be passed on to the consumer in the form of cheaper tickets.

Joana Cunha with Paulo Ricardo Martins and Diego Felix