SAO PAULO, March 1 (Reuters) - Brazilian state-controlled oil company Petrobras said it will increase the average prices of jet fuel to distributors by 8.4% starting on Mar. 1.

Petrobras said in a statement the move, which represents an increase of about 0.31 real per liter, comes after four declines in jet fuel prices in a row. (Reporting by Marta Nogueira in Rio de Janeiro and Andre Romani in Sao Paulo; Editing by Steven Grattan)