Jet fuel prices soar recently, boosted by China's opening up
Civil Aviation Resource Network News on January 29, 2023: According to the Wall Street Journal, the price of jet fuel has soared recently as China reopens its economy.
According to the U.S. Energy Information Administration (EIA), jet fuel prices in the U.S. Gulf of Mexico have surged about 57% in the past seven weeks, while WTI futures have risen only 13% in that period. Jet fuel, like diesel and gasoline, is produced in refineries from crude oil.
According to a Citigroup research report, flight activity in China last week was 13% lower than the same period in 2019, and activity in December was 60% lower than the same period last year. Air traffic has surged in recent days as millions of people travel for the Chinese New Year. Globally, flights this month are about 4% below pre-COVID levels, the report said. China Airport Frangible Flange,China Heliport Touchdown Light,LED frangible flange suppliers,Final approach light suppliers,Airport Crossbar Light factory.