03 April 2013 04:03 [Source: ICIS news]
SINGAPORE (ICIS)--Sinopec and PetroChina have reduced their prices for April-delivery jet kerosene by yuan (CNY) 478/tonne ($77/tonne) from March to reflect weakening values in international markets, sources from the two companies said on Wednesday.
Effective 1 April, Sinopec’s jet kerosene offer is at CNY7,407/tonne ex-refinery to China National Aviation Fuel (CNAF), while PetroChina’s selling price to the same buyer is CNY7,377/tonne ex-refinery.
CNAF is the sole provider of jet kerosene to airlines in China.
Under the existing pricing mechanism in China, jet fuel prices are adjusted on the first day of each month to reflect changes in the benchmark prices in Singapore in the previous month.
($1 = CNY6.20)
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