Jet Fuel Prices Drop to Three-Month Low

Global jet fuel prices declined to $141.64 per barrel as of May 29, marking the lowest level in nearly three months. This drop follows a significant peak of $209 per barrel in early April, a spike triggered by U.S. and Israeli attacks on Iran.

National authorities responded to the downward trend by reducing costs for consumers. In the Philippines, the Civil Aeronautics Board lowered the fuel surcharge to Level 13 for the period of June 1–15, following four consecutive weeks of price decreases. This adjustment reduces the cost of both domestic and international flights.

In Jamaica, the state-owned refinery Petrojam announced price reductions of $0.25 per litre for several products, including automotive diesel, ultra low sulphur diesel, kerosene, and E-10 87 and 90 fuels, effective June 4. While these fuels became cheaper, Petrojam simultaneously increased propane cooking gas prices by $0.25.