The conflict between the U.S., Israel and Iran has disrupted oil flows through the Strait of Hormuz, pushing up crude oil prices. Higher crude costs have lifted gasoline and diesel prices, contributing to broader inflation. Supply constraints are expected to keep prices elevated until mid‑2027.
The Iran war disrupted oil flows through the Strait of Hormuz, pushing up crude oil prices. Higher crude costs have increased jet fuel prices, raising expenses for airlines. This supply‑side pressure points to further upward movement in jet fuel prices.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Jet Fuel | USA | FOB | USD 1,461.87/MT | August 2026 |
| Jet Fuel | China | FOB | USD 1,210.00/MT | August 2026 |
| Jet Fuel | Netherlands | FOB | USD 1,331.50/MT | August 2026 |
| Jet Fuel | South Korea | FOB | USD 1,168.68/MT | August 2026 |
| Jet Fuel | Australia | FOB | USD 1,230.61/MT | August 2026 |
| Jet Fuel | USA | FOB | USD 1,162.26/MT | July 2026 |
| Jet Fuel | China | FOB | USD 1,074.00/MT | July 2026 |
| Jet Fuel | Netherlands | FOB | USD 1,002.61/MT | July 2026 |
| Jet Fuel | South Korea | FOB | USD 1,179.44/MT | July 2026 |
| Jet Fuel | Australia | FOB | USD 1,260.04/MT | July 2026 |
Stay updated with the latest Jet Fuel prices, historical data, and tailored regional analysis
Asia
In China, the average price of Jet Fuel rose from ~USD 1,074.00/MT (FOB) in July to ~USD 1,210.00/MT in August, an increase of ~12.7%. South Korea moved slightly lower, with average prices easing about 0.9% from ~USD 1,179.44/MT (FOB) to ~USD 1,168.68/MT. Asian prices climbed sharply in mid-July after renewed US–Iran hostilities and the ongoing Hormuz blockade cut regional supply, while airspace closures lengthened flight routes and kept demand strong. South Korean export offers eased slightly as regional refiners raised jet output to capture high margins. India's state oil companies raised jet fuel prices in both August and September in line with global benchmarks.
Europe
In the Netherlands, jet fuel averaged approximately USD 1,002.61/MT (FOB) in July and surged to about USD 1,331.50/MT in August, a sharp increase of ~32.8%, the largest among the regions. Europe depends heavily on Middle East jet imports through Hormuz, making it the most exposed market. A brief mid-August dip followed weaker post-summer demand and higher imports, but prices surged again in September, making Europe the highest-priced region.
North America
In the USA, average jet fuel prices increased from nearly USD 1,162.26/MT (FOB) in July to roughly USD 1,461.87/MT in August, up ~25.8%. Crude costs rose as Gulf oil production shut in by the Hormuz disruption reached 6.7 million b/d in August. US distillate inventories, which include jet fuel, stayed well below their five-year average, and refinery outages abroad increased demand for US exports. High margins encouraged US refiners to maximise jet output, which limited further gains.
Analyst Insight
According to Procurement Resource, jet fuel prices are likely to stay high as supply routes remain disrupted and refining premiums stay elevated, though stronger refinery output may slow increases.
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Asia
In China, the prices of Jet Fuel were ~RMB 9.62/kg and ~RMB 7.56/kg, respectively, in the first two months of Q2’26, showing a ~21.4% decrease during the period. Similarly, in South Korea, the prices of Jet Fuel were ~KRW 2,040.54/kg in April and ~KRW 1,671.93/kg in May. Asian jet fuel first moved up sharply as Middle East disruption cut crude and product flows, tightened regional export availability, and raised airline fuel surcharges. However, prices corrected in May as flight schedules were reduced, demand growth expectations were lowered, and buyers resisted higher spot levels. Slower seat-capacity growth and route cancellations weakened fuel consumption, allowing the market to give back part of the earlier risk premium.
Europe
During Q2'26, the prices of Jet Fuel were ~EUR 1.28/kg in April and ~EUR 0.97/kg in the following month, showing a ~24.5% decrease in the Netherlands. Europe was highly exposed to the supply shock because part of its jet fuel supply normally came from the Persian Gulf, while regional production capacity had already declined compared with pre-crisis levels. Prices eased later as alternative supply routes improved, but the market remained sensitive to import dependence and route disruption. Aviation activity also faced pressure from high fuel costs, which limited demand recovery despite the summer travel season.
North America
North America was better supplied than Europe because refinery operations remained strong late in Q2. U.S. refinery inputs stood at 17.1 million b/d, with utilization at 96.1% in the week ending June 19. Jet fuel supplied was also slightly higher year-on-year, showing that aviation demand did not collapse. However, the U.S. West Coast remained exposed to East Asian import competition, especially when Asian buyers were chasing limited cargoes. This kept regional risk uneven.
Jet fuel is a specialized aviation fuel used in aircraft turbine engines. It is primarily produced from refined crude oil fractions and is designed to provide high energy output, stability at low temperatures, and safe combustion performance. The most common types are Jet A and Jet A-1, with Jet A-1 being widely used for international aviation due to its low freezing point.
Shell Aviation, ExxonMobil Aviation, BP Aviation, Chevron Corporation, TotalEnergies Aviation
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Jet fuel production involves refining crude oil into aviation-grade kerosene through distillation, purification, and blending processes. Refineries adjust fuel properties such as density, flash point, freezing point, and combustion quality to meet aviation standards. Sustainable aviation fuel (SAF) production is also growing through pathways using biomass, waste oils, and synthetic fuels.
Jet fuel is mainly used in commercial aviation, military aircraft, cargo airlines, and private aviation. It powers passenger aircraft, helicopters, and defence aircraft requiring reliable turbine engine performance. Aviation fuel suppliers, airports, airlines, and aircraft operators maintain storage and distribution systems to ensure continuous fuel availability for flight operations.
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The Study Offers a Detailed Cost Analysis of Fuel Oil Production From The Fractional Distillation Of Crude Oil. In Addition, the Report Incorporates the Manufacturing Process With Detailed Process and Material Flow, Operating Costs Along With Financial Expenses and Depreciation Charges.
Jet Kerosene Manufacturing Plant Project Report by Procurement Resource thoroughly focuses on every detail that encompasses the cost of manufacturing. Our extensive cost model meticulously covers breaking down Jet Kerosene plant capital cost around raw materials, labour, technology, and manufacturing expenses. This enables precise cost structure optimization and helps in identifying effective strategies to reduce the overall Jet Kerosene manufacturing plant cost and the cash cost of manufacturing.
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