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IATA notes easing of jet fuel prices back to levels seen in late 2010

5-Jul-2012 1:38 PM

IATA, its May/Jun-2012 Airlines Financial Health Monitor, stated (04-Jul-2012) jet fuel prices have eased back to levels seen in late 2010, 20% below the peak earlier this year. Crude oil prices tipped below USD100/bbl in Jun-2012 for the first since Feb-2011. Saudi Arabia continues to increase crude oil supply, in efforts to keep prices down and support the global economy. The increases in oil stocks by Saudi Arabia is more than offsetting any fall in output from Iran. Separately, IATA stated fuel prices for the week commencing 22-Jun-2012 stood at USD112.2/bbl, marking a 1.9% week-on-week decline, a 8.3% month-on-month decline and a 9.0% year-on-year decline. [more – original PR]