In brief

8% in October.

The increase pressures airline costs.

What we know

04

  1. Verified fact · material

    Petrobras raised jet fuel prices to distributors from October 1.

    Raises airline costs.

    Sources[01][02][03]

  2. Verified fact · material

    The increase is about 11.8% on average.

    Sizes the adjustment.

    Sources[01][02]

  3. Verified fact

    According to Agência Brasil, the average price goes from R$ 5.585 to R$ 6.242 per liter.

    Shows the price per liter.

    Sources[01]

  4. Verified fact

    According to Reuters, the increase varies between 11.6% and 12% depending on delivery point.

    Details by location.

    Sources[04]

Transmission to assets

Market read-through

The adjustment passes higher oil prices on to airlines and pressures fourth-quarter results.

Portfolio impact

01
AZUL4 e GOLL54negative

More expensive fuel pressures airline margins.

Pass-through to fares.

What would change the view: Oil stays high.

sector40% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

What to watch

  • Airfare reaction
  • Azul and Gol results
  • Brent price

Limits of the reporting

What remains uncertain

  • The price per liter was reported by a single source read.

Full sources

04
01
Agência BrasilPetrobras reajusta preço médio do querosene de aviação em 11,76%independent newsroom
02
UOL EconomiaPetrobras aumenta o preço do querosene de aviação em 11,8%independent newsroom
03
g1Petrobras eleva preço do querosene de aviaçãoindependent newsroom
04
InfoMoneyPetrobras eleva preço do querosene de aviação em outubroindependent newsroom
06