07 March 2013 05:54 [Source: ICIS news]
SINGAPORE (ICIS)--Sinopec and PetroChina have both raised their prices of March-delivery jet kerosene by yuan (CNY) 359/tonne ($58/tonne) from February levels to reflect firming values in international markets, sources from the two companies said on Thursday.
Effective from 1 March, Sinopec has been offering its jet kerosene at CNY7,885/tonne ex-refinery for cargoes supplied to the China National Aviation Fuel (CNAF).
PetroChina is selling jet kerosene to CNAF at CNY7,855/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 in the benchmarking prices in Singapore in the previous month.
($1 = CNY6.22)
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