Feeling the heat
Asia's airline industry – along with business heads at other fuel-intensive companies – undoubtedly breathed a collective sigh of relief as fuel prices trended down steadily in the past six months. The global benchmark West Texas Intermediate (WTI) crude oil spot price was hovering around $62 a barrel (bbl) in mid-April – having dropped below $50/bbl in January – down from its record high of $78/bbl in August last year. Jet fuel prices have followed a similar pattern (see graph).
This means the
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