Petrobras allows distributors to pay for 55% jet fuel hike in installments

RIO DE JANEIRO/SAO PAULO, April 1 (Reuters) - Brazilian state-run oil firm Petrobras PETR3.SA will allow distributors to pay for a hefty increase in jet fuel prices announced for April in installments, it said on Wednesday, adding that a similar measure could also be adopted in May and June.

Petrobras, which adjusts jet fuel prices at the beginning of each month based on factors such as global oil prices and foreign exchange rates, announced a 54.8% hike following the surge in oil prices linked to the U.S.-Israeli war on Iran.

Payments in installments, Petrobras said in a statement, would mitigate the impact of the price increase on clients while preserving "financial neutrality" for the state-run company.

Under the measure, distributors supplying airlines would face a smaller 18% price hike in April and be allowed to pay for the remaining amount in six installments starting in July, the oil firm said.

Petrobras is the largest oil producer and responsible for most refining activity in Brazil.