Jet Fuel Prices Monitor provides increased transparency for airlines
LONDON (May 21, 2019) - S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, announced at IATA's Aviation Fuel Forum in Athens today its 15-year anniversary of its working with IATA to increase jet fuel pricing transparency.
The Platts Jet Fuel Price Monitor is freely available on the IATA website. The Global Jet Fuel index and price data shows the weighted average of jet fuel prices across major global trading, supply and demand centers, capitalizing on Platts spot market benchmark price assessments in relevant regional centers. Under the methodology, each regional Platts assessment is given a proportional weighting that captures the relative demand for jet fuel in the region. The global index is created by averaging these regional indexes, weighted by the proportion of world demand for the product captured in each region. In addition to global and regional jet fuel Price Indexes, which reflect current world prices, Platts also publishes global and regional Relative Value Indexes, which express the value of the index in relation to jet fuel prices in the year 2000.
Vera Blei, Head of Oil Markets, S&P Global Platts commented: "We are proud to continue to support IATA by providing their members with greater transparency into understanding jet fuel prices through our market leading benchmark data, used to underpin the Jet Fuel Price Monitor.
"Jet fuel buyers have seen stronger prices since the start of the year in line with crude values, which are up due to OPEC+ limits, and international trade tensions. Added to this, airlines will soon face the challenges from the International Maritime Organization's stricter cap on sulphurous emissions at sea from 2020, which will put pressure on the middle distillate complex, where much of the new compliant fuels will likely come from."
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