04 December 2012 09:02 [Source: ICIS news]
SINGAPORE (ICIS)–Chinese oil majors Sinopec and PetroChina have cut their December jet kerosene prices by yuan (CNY) 329/tonne ($53/tonne) from November to reflect weakening values in international markets, sources from the two companies said on Tuesday.
Since 1 December, Sinopec and PetroChina have sold their jet kerosene at CNY7,423/tonne and CNY7,413/tonne ex-refinery respectively to China National Aviation Fuel (CNAF), according to the sources.
CNAF is the sold jet fuel supplier to airlines in China.
Under the existing pricing mechanism, jet fuel prices are adjusted on the first day of each month to reflect changes of the benchmarking mean prices in Singapore in the previous month.
($1 = CNY6.23)
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