China raises December jet fuel prices by $59/tonne

01 December 2011 06:26  [Source: ICIS news]

GUANGZHOU (ICIS)--China has raised its jet fuel prices for December deliveries by yuan (CNY) 376/tonne ($59/tonne) to CNY7,653/tonne, airline sources said on Thursday.

Under the existing pricing mechanism, the country’s jet fuel prices will be adjusted on the first day of each month, benchmarking against the FOB Singapore jet fuel prices from the previous month.

($1 = CNY6.38)

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By: Fanny Zhang
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