Jet fuel prices drop back in choppy week
Jet fuel prices eased by around 2-3% in the past week (to 23-Jun-09), as the underlying crude price fell by a similar amount. Overnight, crude closed right on USD69 per barrel in New York, up 0.5% on the previous close.
Jet fuel spot prices fell 2.1% in the week to 23-Jun-09 at New York Harbor, -2.0 at the US Gulf Coast, -2.8% at Los Angeles, -3.0% in Amsterdam and -5.1% in Singapore, against an underlying 2.4% decrease in the WTI crude price.
Over the past year, oil prices have roughly halved, providing some relief to airlines, though the weak demand and revenue environment is having a greater impact on airline finances.
Daily jet fuel prices (kerosene, cents per gallon) at New York, US Gulf Coast, Los Angeles, Amsterdam, Singapore vs Crude Spot price (WTI, USD per barrel): 16-Jun-09 to 23-Jun-09
|
|
16-Jun-09 |
17-Jun-09 |
18-Jun-09 |
19-Jun-09 |
22-Jun-09 |
23-Jun-09 |
one week
|
12 month
|
|---|---|---|---|---|---|---|---|---|
|
New York Harbor |
186.33 |
190.05 |
188.53 |
185.25 |
178.15 |
182.4 |
-2.1% |
-53.7% |
|
U.S. Gulf Coast |
183.83 |
188.05 |
186.03 |
183 |
175.65 |
180.15 |
-2.0% |
-53.4% |
|
Los Angeles |
188.08 |
191.3 |
189.78 |
187 |
180.9 |
182.9 |
-2.8% |
-52.9% |
|
189.15 |
193.07 |
191.19 |
186.8 |
180.54 |
183.48 |
-3.0% |
-53.3% |
|
|
187.38 |
186.67 |
191.9 |
189.52 |
184.4 |
177.74 |
-5.1% |
-54.7% |
|
|
WTI Spot |
70.47 |
71.07 |
71.42 |
69.6 |
67.09 |
68.81 |
-2.4% |
-49.4% |
Daily jet fuel prices (kerosene, cents per gallon) at New York, US Gulf Coast, Los Angeles, Amsterdam, Singapore: 02-Dec-08 to 23-Jun-09
