30 September 2013 06:54 [Source: ICIS news]
SINGAPORE (ICIS)--Sinopec and PetroChina have both decided to increase prices of October-delivery jet kerosene by yuan (CNY)77/tonne ($12.58/tonne) from September to reflect strengthening values in the international markets, sources from the two companies said on Monday.
Effective from 1 October, Sinopec’s jet kerosene offer will be CNY7,255/tonne ex-refinery to China National Aviation Fuel (CNAF), while PetroChina’s selling price to the same buyer will be CNY7,225/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 = CNY6.12)
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