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Jet Fuel Premiums Skyrocket as New York, Gulf Supplies Sink

  • Refiners are dialing back jet output amid strong diesel cracks
  • East Coast seasonal jet stockpiles are lowest since 2008
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Photographer: JethuynhCan/Moment/Getty Images

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Jet fuel premiums are skyrocketing in New York and Houston as low inventories stoke concerns of a supply pinch. 

The premium for physical barrels of New York Harbor jet fuel has jumped by nearly 20-fold since the start of the week. On the Gulf Coast, the premium over futures nearly doubled Wednesday to the highest in 14 years. The price spikes come as fuel supplies on the East Coast and  Gulf Coast are at their lowest seasonal points since 2008.