CORRECTION: Petrobras ups fuel oil, aviation fuel

- Thursday, October 3, 2002

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Brazil's federal energy company Petrobras this week upped the price of fuel oil, and not diesel fuel, as mistakenly reported on Thursday.

The corrected story follows:

Brazil's federal energy company Petrobras this week upped the price of fuel oil and aviation fuel to match rising international prices, the company said in a statement.

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Fuel oil went up 9.7% from Monday, while aviation fuel went up 16.3% from Tuesday.

According to Petrobras, since July 1, 2001, when aviation fuel prices were deregulated, prices have risen 37.1%.

According to Brazilian airline TAM, aviation fuel has risen 105.62% in the last 12 months, while gasoline has risen 30.5% and diesel fuel 31.1%.

Prior to this latest rise, aviation fuel increased 600% since 1999, while gasoline rose 270% and diesel fuel 246% in the same period.

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