Jet fuel prices near $5 per gallon in New York and Los Angeles

New York: New York is a major U.S. aviation and fuel-trading market on the East Coast. Its jet-fuel prices are approaching $5 per gallon as reduced global supplies increase regional fuel costs. jet fuel: Jet fuel is a refined petroleum product used to power commercial and military aircraft. In the reported event, tightening refined-product supplies linked to refinery attacks and disrupted Middle East shipments are driving higher jet-fuel prices in New York and Los Angeles. Los Angeles: Los Angeles is a major aviation market on the U.S. West Coast with fuel prices influenced by regional refining capacity and broader Pacific supply conditions. Jet-fuel prices there are also rising toward $5 per gallon amid disruptions to international refined-product supplies. Russia: Ukrainian attacks on Russian refineries have disrupted the availability of refined products, contributing to tighter international supplies of jet fuel and other fuels. Refining: The Dallas Fed reports that geopolitical conflict, refinery damage, transportation disruptions, and export restrictions have reduced global refining capacity and widened the spread between crude-oil and refined-fuel prices. Middle East: Damage to Middle Eastern refineries and interruptions to tanker traffic have reduced shipments of refined products, adding to pressure on global aviation-fuel markets.