Jet Kerosene Prices In India
- India: 1155 USD/MT
The price of jet kerosene in India has reached 1155 USD/MT in the fourth quarter of 2023.
The latest report by IMARC Group, titled "Jet Kerosene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Jet Kerosene Prices. This report delves into the price of Jet Kerosene globally, presenting a detailed analysis, along with informative Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
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The study delves into the factors affecting Jet Kerosene price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Jet Kerosene Price Trend Last Quarter
The aviation sector, which is seeing rapid growth due to rising air travel demand and the expansion of airline networks around the globe, is the main driver of the jet kerosene market. Jet fuel usage has surged due to the huge increase in frequency and reach of air travel caused by the fast expansion of low-cost airlines in regions like the Middle East and Asia-Pacific. Jet kerosene demand has been further boosted by the post-pandemic recovery, which has seen a resurgence in both domestic and international travel.
Air freight transportation has increased as a result of the growth of e-commerce, and this sector also largely depends on jet fuel. Furthermore, as newer, more efficient aircraft comes into service, continuous technical developments in aircraft design that prioritize fuel economy while fostering sustainability continue to fuel market expansion. Global efforts to cut carbon emissions are driving investments in sustainable aviation fuels (SAFs), which are expected to develop at a faster rate than the jet kerosene industry in the future.
Jet Kerosene Industry Analysis
The size of the world market for jet kerosene was US$ 463.5 billion in 2023. The IMARC Group projects that the market would grow at a predicted CAGR of 5.30% from 2023 to 2032, or US$ 736.5 billion. The fourth quarter of 2023 saw a fall in the jet kerosene market in North America as a result of the unstable price of crude oil globally. Crude oil price fluctuations directly impacted production costs, necessitating pricing modifications. While worries about supply interruptions subsided, concerns about demand remained, further depressing market sentiment.
Furthermore, despite a rise in trade activity in the USA in November, prices did not change. The low level of demand worldwide, particularly from India, was caused by cheaper imports. In the meanwhile, the unpredictable price of crude oil throughout the world caused a slowdown in the APAC area.
petroleum oil prices fell sharply in November when US sanctions on Venezuela were lifted, allowing Indian refiners to receive cheaper petroleum. In addition, because of these less expensive imports, jet kerosene costs unexpectedly decreased as trade in India increased. In addition, the volatility of crude oil prices worldwide caused a fall in the European jet kerosene market.
Price modifications resulted from a direct impact of crude oil fluctuations on the expenses associated with producing jet kerosene. The month of November saw a significant decrease in the price of crude oil, and the lifting of US sanctions on Venezuela allowed European refiners to get cheaper petroleum, which would have affected import trends. Market mood was further depressed by the lowering of worries about disruptions resulting from the Israel-Hamas conflict.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
- North America: United States and Canada.
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru.
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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