U.S. East Coast jet fuel prices decline from record highs but remain higher than other hubs
The spot jet fuel price in New York Harbor traded at record-high levels for several weeks in April.
On April 4, 2022, the NYH spot price was $7.61 per gallon (gal). The price has since declined, but it has remained at elevated levels.
The NYH spot price is significantly higher than spot prices at both the U.S. Gulf Coast and the Amsterdam, Rotterdam, and Antwerp trading hubs that averaged about $3.60/gal in March and April 2022.
Rapid price increases are not uncommon in petroleum markets and are usually associated with significant supply disruptions, such as large unplanned refinery outages or natural disasters.
In this instance, no significant unplanned supply disruption occurred; rather, a confluence of supply and demand factors have likely contributed to increased price volatility in the East Coast jet fuel market.
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