The two ministers join a chorus of officials trying to browbeat Petrobras into aligning its efforts with President Luiz Inacio Lula da Silva’s push to fight inflation and boost Brazil’s economy. — Bloomberg
SAO PAULO: Brazilian government officials are pushing Petroleo Brasileiro SA to slash jet-fuel prices as part of an intensifying campaign to make the state-owned oil company help control inflation.Ports and Airports Minister Silvio Costa Filho and Tourism Minister Celso Sabino are blaming high jet-fuel costs for the roughly 24% jump in airline ticket prices last month in Brazil.
Petrobras, they said, should do more to bring them down.
“We are working to combat abusive air ticket prices,” said Costa Filho.
“Aviation kerosene accounts for about 40% of the cost of a flight in Brazil, while in the world, it’s about 20%.”
The two ministers join a chorus of officials trying to browbeat Petrobras into aligning its efforts with President Luiz Inacio Lula da Silva’s push to fight inflation and boost Brazil’s economy.
The company, however, has resisted a wholesale shift in strategy, leading to growing dissatisfaction within the government of chief executive officer Jean Paul Prates, according to people familiar with the situation. — Bloomberg
