07 January 2013 07:12 [Source: ICIS news]
SINGAPORE (ICIS)--Sinopec and PetroChina have both cut their January-delivery jet kerosene prices from December to reflect the weakening prices in international markets, sources from the two companies said on Monday.
Sinopec reduced its price of jet kerosene supplying to China National Aviation Fuel (CNAF) by yuan (CNY) 34.00/tonne ($5.50/tonne) to CNY7,389/tonne ex-refinery, effective from 1 January.
PetroChina, on the other hand, trimmed its price of jet fuel supplying to CNAF in January by CNY54.00/tonne to CNY7,359/tonne ex-refinery, a company source said.
CNAF is the sole provider of jet kerosene 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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