29 April 2013 03:05 [Source: ICIS news]
SINGAPORE (ICIS)--Sinopec and PetroChina will reduce their prices of jet kerosene for May delivery by yuan (CNY) 487/tonne ($79/tonne) from April on the back of weakened international prices, sources from the two companies said over the weekend.
Effective from 1 May, Sinopec’s jet-kerosene offer is at CNY6,920/tonne ex-refinery to China National Aviation Fuel (CNAF), while PetroChina’s selling price to the same buyer is CNY6,620/tonne ex-refinery.
CNAF is the biggest 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 = CNY6.16)
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