Aircraft refueling on Angolan soil got cheaper this March, compared to February, according to the table published by the Regulatory Institute for Petroleum Derivatives (IRDP) of the Ministry of Mineral Resources, Oil and Gas.
The reduction was an average of 30 kwanzas for each reference litre, but which represents, overall, a significant saving for operators.
According to the same IRDP table, for this month of April, the Adjustment Reference Price – Platts (PRA) is now at 304.60 kwanzas, against 336.23 kwanzas in March. Prices for the months of February (346.22) and January (329.69) were much higher.
For the Base Price on the Coast/Ex-Refinery (PBC), the liter is fixed at 331.47 kwanzas, more than 30 kwanzas below the 363.25 of the previous month. In February it was 373.25 and in January 356.74.
As for the Sale Price/Ex-Logistics and Distribution (PVD), the IRD set a table of 371.19 kwanzas. In March, the price was 402.97 kwanzas per litre, down from 412.94 in February. At the beginning of the year, this reference was priced at 396.57 kwanzas.
Finally, for the Air Installation Price (which includes taxes and fees) – PVA was determined at 432.45 kwanzas, 35.59 less kwanzas compared to 468.04 kwanzas in the month of March. In February, the liter cost 479.18 and in January 460.92 kwanzas.
According to the Petroleum Derivatives Regulatory Institute (IRDP), the measure has to do with the mechanism for automatically adjusting prices of JET A1 (fuel for jets) to market prices.
The IRDP is an institution of the Ministry of Mineral Resources, Oil and Gas and in coordination with Finance updates the prices of the month.
Less cost on flights
According to technical explanations, the reduction in the price of the JET A1 allows flights to have lower costs, because, normally, in the case of TAAG, supplies for connecting flights with Lisbon (Portugal) or Maputo (Mozambique) are made in Luanda and in the national currency, and this saves the company foreign exchange. Changes in airline ticket prices are more closely associated with changes in the reference currency (Euro/Dollar).