China's after-tax CIF prices of imported jet fuel averaged 4,486 yuan/metric ton (tonne) in June 2015, up 286 yuan/tonne or 6.81 percent month on month, according to statistics from the China Jet Fuel Import Price Index (CJFIPI), a data product released along with the China Petroleum Stockpile Statistics (CPSS) on Thursday.
Meanwhile, the CIF price of imported jet fuel in bonded areas averaged 3,785 yuan/tonne, increasing 214 yuan/tonne or 5.99 percent from May 2015.
The CPSS is a monthly data product collected and released by the financial information platform Xinhua08 of Xinhua News Agency.
Xinhua analysts noted that the increase of imported jet fuel prices resulted from jumps of Brent oil prices and jet fuel prices in Asian market, higher travel demand in summer vacation season and increase of crude oil tanker freight index.
The CJFIPI, developed by the Xinhua08, is China's first reference indicator able to mirror the after-tax CIF price of China's imported jet fuel. Xinhua08 releases the index along with CPSS statistics every month.
The Xinhua08 platform is an internet-based financial information and trade service platform developed by Xinhua. Employing advanced information and communication technologies, it provides integrated services of real-time information, market quotations, historic data, research tools, analysis models, and online trading.
Figure 1: China's monthly jet fuel import composite price since June, 2014
(Unit: yuan/metric ton)
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