Sinopec, PetroChina hike May jet kerosene prices by CNY9/tonne

05 May 2014 08:57 Source:ICIS News

SINGAPORE (ICIS)--Sinopec and PetroChina have increased their prices for May-delivery jet kerosene by CNY9/tonne ($1.44/tonne) over April amid firming values in international markets, sources from the two companies said on Monday.

Sinopec’s jet kerosene offers to China National Aviation Fuel (CNAF) rose to CNY 6,974/tonne ex-refinery, while PetroChina’s offers to the same buyer increased to CNY6,944/tonne, they said.

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 = CNY6.26)

By Amy Sun