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Brazil's Petrobras raises jet fuel prices by 11%

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  • PBR-A

SAO PAULO, June 2 (Reuters) - Brazilian state-run oil company Petrobras increased jet fuel prices by roughly 11% in several locations from Wednesday, data published on the firm's website showed on Thursday.

In Guarulhos, where Brazil's busiest airport is located, kerosene prices were raised by 11.2% to 5.626 reais ($1.18) per liter, while in Rio de Janeiro's Duque de Caxias refinery they went up by 11.3%, according to Petrobras.

Petroleo Brasileiro SA, as the company is formally known, has been increasing jet fuel prices monthly in 2022 as it seeks to track rising international oil prices.

Since the beginning of the year, it has raised kerosene prices in Guarulhos by 64.4%.

Jet fuel accounts for more than a third of airline costs, according to local association Abear. Azul SA and Gol Linhas Aereas Inteligentes SA are some of Brazil's largest carriers. ($1 = 4.7869 reais) (Reporting by Gabriel Araujo; editing by Diane Craft)

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