Jet Fuel Prices Near $5 Gallon in New York and Los Angeles

Jet fuel prices in New York and Los Angeles have surged toward $5 per gallon, marking the highest levels seen since March and April respectively. In New York, prices reached $4.95 per gallon on Thursday, while Los Angeles saw prices climb to $4.91.

This price increase is driven by global supply disruptions. The Cabinet of Ministers of Ukraine targeted Russian refineries with attacks, which, combined with reduced shipments of refined products from the Middle East, tightened available supplies.

These regional spikes contrast with the U.S. benchmark region in the Gulf Coast, where fuel prices have eased slightly since last month.