China reduces jet fuel price by 180 yuan per ton starting Jan 1- source |
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Published
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Wed, 10 Jan 2007 04:01
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BEIJING (XFN-ASIA) - China has cut the ex-factory price of jet fuel by 180 yuan per ton from January 1 to reflect recent declines in global prices of crude oil, a source with the China Aviation Oil Holding Corp (CAOHC)said.'The National Development and Reform Commission has approved the price decrease, it took effect on January 1,' the source told XFN-Asia.CAOHC, the country's monopoly supplier of jet fuel, had hiked the price of the fuel by 290 yuan per ton last July to reflect the higher cost of fuel imports.The source added that the reduction is also aimed at easing profit margin pressure for domestic airlines.( 1 usd = 7.81 yuan )kelly.zang@xfn.com
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Air China, Cathay Pacific to set up cargo JV in H1 at earliest - report 