Asian refining margins for jet fuel dropped for a second straight session on Wednesday to their lowest levels in more than eight months, as crude prices firmed and demand for the distillate fuel remained weak.
Asia’s cash discounts for jet fuel narrowed by a cent on Wednesday but remained near this year’s weakest levels of cash differentials amid a lingering supply glut, while the front-month spread shrunk its contango structure.
Asian jet fuel price discounts stand at their lowest December levels in nine years as a supply glut offsets consumption even as the region’s aviation sector booms.
Jet fuel produced at the Reliance Refinery in Jamnagar from American and Mexican crude oil is of Indian-origin for the purpose of procurement by the US government, a federal agency has determined.
Asia’s cash discounts for jet fuel widened on the back of ample supplies, while the physical market for the aviation fuel remained subdued for the fifth consecutive session with no bids or deals on Tuesday.
Oil companies on Thursday hiked the price of aviation turbine fuel (ATF) by 5.2 per cent, in yet another blow to India’s struggling-to-survive airlines. The price per kilolitre (kl) of jet fuel after the latest monthly revision in Delhi
Natural gas and aviation turbine fuel (ATF) may soon come under the Goods and Services Tax (GST), while real-estate, petrol, diesel and electricity will take more time, ET Now reported quoting unidentified government sources.
The price of non-subsidised LPG or market priced cooking gas has been hiked by Rs 93 to Rs 742 per bottle. At the last revision on October 1 the rate was hiked by Rs 50 to Rs 649 per bottle
Import of oil drilling rigs has been exempted from the Goods and Services Tax (GST) levy to give a boost to domestic exploration and production, the government said today.
Jet fuel or ATF price was on Sunday hiked by a steep 6 per cent on firming international rates, the third straight increase in rates since August.