Jet fuel
Overview
Jet fuel market volatility, whether from crude prices, supply issues from refining capacity, or ongoing regulation changes, is a continual risk to your bottom line.
Having a choice in fuel pricing is the best way to mitigate risk and stay on top of market changes. Argus constructs price indexation in a way that is appropriate for each market. By doing so, market participants can align their day-to-day operations, improve management of fuel costs and directly impact their net earnings.
Jet fuel makes up more than 40% of an airline’s total operating expense. The rise in importance of sustainable aviation fuel (SAF) from government mandates and self-regulations from airlines has a direct implication on these operating costs.
Argus helps the jet fuel market participants to make informed decisions and optimize their strategies with price assessments and information on deals done for conventional jet fuel and SAF, as well as the latest market-moving news, in-depth analysis, supply and demand dynamics, and price forecasts.
Latest jet fuel news
Browse the latest market moving news on the global jet fuel industry.
Import woes drive LA jet fuel to 44-month high
Import woes drive LA jet fuel to 44-month high
Seattle, 17 March (Argus) — Prompt-month jet fuel prices in Los Angeles jumped to a 44-month high on Tuesday after news broke of a fuel export cap in South Korea, which supplies the majority of jet imports to the US west coast. Jet fuel for as far forward as May delivery in Los Angeles was heard traded sharply higher, although March volume began to depreciate in trade heard by the afternoon. Trade for March was heard as high as April Nymex +40¢/USG before declining in a sale at +25¢/USG — still a double-digit increase from business on Monday that had ranged from April Nymex +10-14¢/USG. Cash prices for March jet fuel drew additional support from a higher daily Nymex settlement and reached $4.32/USG, the highest level since June 2022. The forward curve for spot jet fuel prices remains positive in Los Angeles, with April volume heard traded at May Nymex +70¢/USG on Tuesday, a 25¢/USG jump from the prior day. For May, buyers in Los Angeles were heard to have paid from June Nymex +55-80¢/USG. War between the US and Iran — and its subsequent upheaval of key crude shipping routes — has introduced a new obstacle for the west coast jet fuel supply chain. South Korea on Tuesday announced mandatory export caps on refined petroleum products , limiting shipments to 2025's monthly levels as the nation moves to safeguard domestic supply. South Korea in 2025 supplied an average of 87pc of jet fuel imported at the US west coast each month, at about 80,000 b/d, according to the Energy Information Administration. The US west coast was expected to become more reliant on jet fuel imports with the closure of two California refineries in the past six months: Phillips 66's 139,000 b/d Los Angeles complex, which shuttered late last year, and now Valero's 150,000 b/d Benicia site due for full idling by April. By Jasmine Davis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UK to subsidise some household heating oil costs
UK to subsidise some household heating oil costs
London, 16 March (Argus) — The UK government today said it will allocate more than £50mn ($66mn) to low-income households to tackle the rising cost of heating oil as a result of the war in the Middle East. Households in England will receive £27mn via the Crisis and Resilience Fund, which comes into effect on 1 April. The governments of Northern Ireland will receive £17mn, Scotland £4.6mn and Wales £3.8mn. It is unclear how this money wil be distributed to households. Some UK homes use 1,000ppm sulphur kerosine for heating and hot water, a stricter specification than jet fuel. But unlike gas and electricity, energy regulator Ofgem does not cap heating oil costs, meaning those consumers are exposed to significantly higher energy bills. The government said it "intends to introduce new consumer protections for heating oil customers". It directly attributed the rising cost of kerosine to the war in the Middle East, which has caused jet-kerosine to trade around double the price of crude . Northwest European jet fuel prices hit an all-time high of $1,646.25/t on 12 March, according to Argus assessments. European jet fuel values have risen because supply is under extreme pressure. About 40pc of European jet fuel imports transit the strait of Hormuz, which Iran has effectively closed, Kpler data show. And Middle Eastern kerosine is often low-sulphur, meeting UK household specification, traders said. By Amaar Khan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Drone strikes cause fire near Dubai airport
Drone strikes cause fire near Dubai airport
Dubai, 16 March (Argus) — A fire was reported near Dubai International Airport (DXB) today after a drone struck one of the fuel tanks near the airport, authorities said. The blaze was later contained, and authorities confirmed that no injuries were reported. Flight operations were temporarily suspended as a precaution while some flights were diverted to Al Maktoum International Airport (DWC), Dubai's second airport. Authorities later announced a gradual resumption of some flights to and from DXB to selected destinations. Emirates, the world's largest international airline by passenger traffic, said it expected to operate a limited schedule after 10:00 Dubai time on Monday, although some flights scheduled for the day had been cancelled. DXB handled a record 95.2mn passengers in 2025, underlining the scale of disruption at one of the world's busiest international hubs, airport authority Dubai Airports said. This is the third reported incident involving DXB since the US-Iran war began on 28 February. Two drones landed near the airport on 11 March, injuring four people, while a drone-related incident on 1 March caused minor damage to one of its concourses. The latest incident underscores the strain on the Mideast Gulf aviation sector, where repeated drone and missile attacks have triggered airspace restrictions, flight diversions and operational disruptions at airports across the region. Restricted airspace has forced longer routings and cancellations, increasing fuel burn and disrupting passenger traffic. In neighboring Kuwait, two fuel storage tanks at Kuwait International Airport were struck in a drone attack on 8 March, authorities said. By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia moves to weekly fuel stock reporting
Australia moves to weekly fuel stock reporting
Sydney, 16 March (Argus) — Australia's Department of Climate Change, Energy, the Environment and Water (DCCEEW) will temporarily publish the latest available statistics on fuel stocks in the country under the Minimum Stockholding Obligation (MSO) weekly, transitioning from quarterly updates. Fuel suppliers are required to report stocks held on Tuesday by Friday and prove compliance with the MSO under federal law. Australia had 30, 37 and 29-days' worth of stocks for gasoil, gasoline and jet fuel at the normal rate of consumption, the latest weekly snapshot of fuel supplies as of 10 March show. This was 2pc, 52pc and 23pc above the required volumes under the MSO at the time. Demand for road fuels across Australia has spiked over the last two weeks because consumers rushed to service stations to procure supplies in anticipation of higher prices. This has meant the normal rate of consumption of 273,000 b/d and 578,000 b/d of gasoline and gasoil has been surpassed, eroding the level of MSO days of storage and leading to reported shortfalls in Australia's regional areas that rely on smaller independent wholesalers for supply, far from terminals. The Australian government allowed the release of up to 762mn litres (4.8mn bl) of gasoline and gasoil from Australia's domestic reserves on 13 March, reducing the MSO levels for each company to which it applies. The government has also taken other measures such as the relaxation in fuel standards to allow Australian refiner Ampol to sell its gasoline domestically at 50ppm sulphur content, above the national standard of 10ppm for a 60-day period. By Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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