Tight Supply Sends U.S. East Coast Jet Fuel Price Surging

The U.S. East Coast is currently seeing record high jet fuel prices as the global market of distillates is exceptionally tight after the Russian invasion of Ukraine and the return of air travel after the pandemic. The East Coast, or the PADD 1 district per Energy Information Administration (EIA) taxonomy, gets its supply of jet fuel mostly from the Colonial Pipeline from Texas and from Europe.   These days, however, Europe is in short supply of distillates, including jet fuel, considering that traders are shunning cargoes of Russian crude…