Where are jet fuel prices most depressed because of the thousands of flight cancellations from major snowstorms and a cold snap that dropped temperatures in the US Midwest and Northeast below those in Antarctica?
Not Chicago, which saw a 5 cents/gallon rise from Christmas to January 7 in the jet fuel differential–the difference between the NYMEX ULSD futures contract and actual physical jet fuel barrels that will be delivered.
Not New York, where the differential spiked 10.8 cents/gallon from December 30 through the first week of 2014.
Not the US Gulf Coast, which produces half the US jet fuel and delivers a healthy chunk of that into both the above markets, and saw a 2.15-cent gain in the differential from Christmas through January 7.
Still guessing? Try sunny and warm Los Angeles.
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