How airline ticket prices will be affected by the import of jet fuel

Airline users are urged to be alert to price adjustments and to consider these factors when planning their next trips.

Ecopetrol President Ricardo Roa confirmed on Monday that the country will experience an increase in jet fuel prices due to the import of this resource.

According to Roa, the measure responds to the need to import between 8% and 10% of the national demand for aviation fuels, which has led to an increase in the costs of these products.

“We are ensuring that by August, 96% of the fuel will be available, in accordance with the contractual obligations and commitments Ecopetrol has established with wholesale distributors. Ecopetrol has not failed to comply with this legal criterion,” said the Ecopetrol leader.

See: Colombians are concerned about a possible shortage of jet fuel, even though Ecopetrol says it is not that serious

“Today, a barrel of JET A1, produced in Colombia, costs 94 dollars per barrel. The import that has been talked about is equivalent to 8 or 10 percent of the demand that we will meet in the coming days, that is, 37,000 barrels per day,” said Ricardo Roa.

#MinuteByMinute | Ecopetrol President Ricardo Roa announced that, due to the import of 8%-10% of the national demand for jet fuel, an increase in the price of this resource is expected. pic.twitter.com/p8TryUeF89

— La FM (@lafm) August 26, 2024

There is no clarity regarding the increase in air tickets

Airline users should be alert to price adjustments and consider these factors when planning their next trips.

So far, neither the authorities nor the airlines have provided any clarity on what could happen to the cost of airline tickets. However, the current situation also highlights the country’s dependence on imported aviation fuel and the need to strengthen local production to mitigate future economic impacts.

Read also:

Source link