Aircraft refueling on Angolan soil is 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 10 kwanzas for each reference litre, but which represents, overall, a significant saving for operators.
According to the same IRDP table, for this month of March, the Adjustment Reference Price – Platts (PRA) is now at 336.23 kwanzas, against 346.22 in the previous month. In January the price was 329.69 kwanzas, the lowest compared to that 1st quarter.
For the Base Price on the Coast/Ex-Refinery (PBC), the liter is set at 363.25 kwanzas. 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 402.97 kwanzas per litre, below the 412.94 of the previous month. 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 468.04 kwanzas, against 479.18 in February. In January this benchmark was quoted at 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.
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).
