Chuck Greenwood, a Phillips 66 dealer in Ponca City, Okla., has instituted a unique pricing structure for jet operators. They can buy fuel at his cost, then pay a flat $100 fee for any amount up to the first 1,000 gallons and 10 cents per gallon for any amount greater than 1,000 gallons.
The average price of jet fuel in the U.S. is edging upward, according to two independent surveys. Within the lower 48 states, Fillup Flyer Fuel Finder (www.fillupflyer.com) reported that the average price in late March was $2.63 a gallon, up about 15 cents since January. The highest price found by Fuel Finder was $4.15 a gallon in the Southeast region.
Skyrocketing jet fuel prices did almost nothing to slow down high-flying business jet travelers, who collectively took to the skies in record numbers this year, according to industry statistics. Now that crude oil prices are falling, analysts predict economic growth will further boost the use of business jets by corporations and the well-to-do.
In the wake of Hurricane Katrina the surge in auto-fuel prices–with the per-gallon increases lagging just hours behind the rising flood waters–was at the forefront of everybody’s mind. A flurry of activity on the political front–including the release of six million barrels of crude oil from the Strategic Petroleum Reserve–further focused the nation’s attention on the cost of keeping America’s engines running.
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