China is planning to lower wholesale aviation fuel prices as early as July, part...
SINGAPORE/BEIJING - China is planning to lower wholesale aviation fuel prices as early as July, part of Beijing’s pledge to reduce business costs in a slowing economy, said an oil industry executive and a spokeswoman with the Chinese aviation authority.
“This is part of the aviation authority’s response to the Cabinet’s call to help smaller businesses and consumers, as the economy is really slowing,” said the executive, who declined to be named due to company policy. The government will lower the fixed premiums previously set in the formulas, which are linked to prevailing Asian spot prices of jet fuel, as well as cut marketing and operational fees, said the executive.
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