Petrobras reduces the price of aviation kerosene by 0.6% in the main markets and cuts natural gas by 2%

Petrobras reduces the price of aviation kerosene by 0.6% in the main markets and cuts natural gas by 2%
Petrobras reduces the price of aviation kerosene by 0.6% in the main markets and cuts natural gas by 2%
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SÃO PAULO (Reuters) – Petrobras (PETR4) reduced the selling price of aviation kerosene to distributors by 0.6% in the country’s main sales points, such as Duque de Caxias (RJ), Guarulhos (SP), Betim ( MG) and Paulínia (SP), according to information published by the company on its website this Thursday.

The small adjustment for February was made after the company reduced QAV by almost 10% in January. The company did not immediately detail the average adjustment.

At the same time, a meeting between representatives of the federal government, Petrobras and airlines was canceled this Thursday, to discuss possible changes in the conditions of aviation kerosene (QAV) for the sector.

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In comments to journalists at Palácio do Planalto, the Minister of Mines and Energy, Alexandre Silveira, stated that “we cannot treat airline issues just as a fuel issue”.

“We have to deal with it considering the nature of the companies, the situation of the airline sector and mainly considering the issue of ticket prices in Brazil and the price composition formula and what the fuel represents in it”, said the minister.

The president of Petrobras, Jean Paul Prates, stated that the company is willing to collaborate with the debate on the situation of the airline sector in Brazil, but that it will not lower the price with a “pen”, according to a statement given the day before to the newspaper O Estado de S.Paulo.

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Petrobras adjusts prices monthly and sells the QAV produced in its refineries or imported only to distributors, who in turn transport and sell the products to air transport companies.

Adjustment on natural gas

Petrobras also informed that starting this Thursday, natural gas sales prices will have an average reduction of 2%, according to the contracts agreed by the company with distributors, according to a statement.

Contracts with distributors provide for quarterly updates of the portion of the price related to the gas molecule, and link this variation to fluctuations in Brent oil and the exchange rate. For the quarter starting in February 2024, the oil reference fell 3.6% and the exchange rate depreciated by 1.5%.

“In addition, in January 2024, several new contracts came into force arising from the new Petrobras product portfolio, and from the distributors’ competitive processes,” highlighted Petrobras.

The portfolio brought the possibility of concluding contracts over different terms (5 years, 7 years, 9 years and 11 years) and the choice by distributors as to whether or not to include outbound transport in the contracts, the company recalled.

Petrobras customers with contracts in force in 2023 saw an accumulated reduction of 22.2% in the price of the natural gas molecule throughout the year, Petrobras said.

The final price of natural gas to the consumer is not only determined by the company’s sales price of the molecule, but also by the cost of transportation to the distributor, each distributor’s supply portfolio, as well as their margins and federal and state taxes. .

(with Reuters)

The article is in Portuguese

Tags: Petrobras reduces price aviation kerosene main markets cuts natural gas

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