China cuts jet fuel prices by $32/tonne for November delivery

31 October 2011 07:35  [Source: ICIS news]

GUANGZHOU (ICIS)--China has cut jet fuel prices for November delivery by yuan (CNY) 224/tonne ($35/tonne) to CNY7,277/tonne, a source from China Southern Airlines said on Monday.

Under the pricing mechanism set by the National Development and Reform Commission (NDRC), jet fuel prices are adjusted on the first day of each month and benchmarked against the FOB Singapore jet fuel prices from the previous month.  

($1 = CNY6.36)

Additional reporting by Rachel Lin

By: Fanny Zhang
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