Ameer Randolph
The price of jet fuel is a highly variable figure, dependent on a multitude of factors, including the region and supplier. In Canada, jet fuel prices can be found on the website of fuel suppliers such as Rotterdam and Houston, as well as on specialised websites like Platts and COPA's Places to Fly webpage. As of 2023, Air Canada paid nearly 112 Canadian cents for each liter of jet fuel, a decrease from 130 cents the previous year.
| Characteristics | Values |
|---|---|
| Jet Fuel Price Source | Platts |
| Jet Fuel Rate | JET A1, JP-54, ST-1 |
| Air Canada's Average Fuel Cost (FY 2011-FY 2023) | 112 Canadian cents per liter (in 2023), down from 130 cents the previous year |
| Global Average Jet Fuel Price (as of Feb 2024) | $92.92 per barrel |
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What You'll Learn
Jet fuel prices vary across airports in Canada
According to one source, the jet fuel rate in Canada is available on the Platts website. However, the specific prices were not found. The jet fuel rate likely refers to the price per barrel, per metric ton, per gallon, or per liter.
In the fiscal year 2023, Air Canada paid nearly 112 Canadian cents for each liter of jet fuel, a decrease from the previous year's rate of 130 cents per liter. This was the highest average fuel cost paid by the airline company during the period under consideration.
The variation in jet fuel prices across Canadian airports can be influenced by various factors, including demand, supply dynamics, regional differences in taxation and regulations, and the unique operational costs of each airport. These factors can contribute to the fluctuations in jet fuel pricing from one airport to another within Canada.
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Air Canada's fuel costs have decreased since 2022
Air Canada reported a net loss of $974 million in the first quarter of 2022, compared to a loss of $1.3 billion the year before. The airline's revenue totalled $2.57 billion in the first quarter, up from $729 million in the same period in 2021. Fuel costs and weak business travel were cited as reasons for the loss.
In March 2022, airlines faced skyrocketing oil prices due to the fallout from Russia's invasion of Ukraine, which pushed jet fuel prices up by more than 27% to US$142 per barrel in the week ending March 4. According to the International Air Transport Association, jet fuel prices rose nearly 119% year-over-year as of April 22, 2022, with a slight decrease of 5.5% in the previous month.
Air Canada aimed to restore North American routes and increase cargo services to offset the impact of the pandemic on ticket sales. The airline also considered increasing fares and ancillary fees to manage the higher fuel costs.
In the fiscal year 2023, Air Canada paid 112 Canadian cents for each liter of jet fuel, down from 130 cents per liter in the previous year, indicating a decrease in fuel costs since 2022. This decrease in fuel costs could be a result of market dynamics and the recovery from the initial shock of the Russia-Ukraine conflict.
While the decrease in fuel costs is positive for Air Canada, it is important to monitor the ongoing situation in Ukraine and its potential impact on fuel prices. Additionally, Air Canada's financial performance involves various factors, including competition, demand, airport charges, and labour costs.
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Jet fuel suppliers in Canada include Rotterdam and Houston
Jet fuel rates in Canada are available on the website of energy information provider Platts. However, Platts does not permit the use of its figures. As an alternative source of information, the website jet-a1-fuel.com provides jet fuel rates per barrel, per metric ton per gallon, and per liter.
In the fiscal year of 2023, Air Canada paid nearly 112 Canadian cents for each liter of jet fuel, down from 130 cents per liter in the previous year. This was the highest average fuel cost paid by the airline company in the period of consideration.
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Platts provides daily jet fuel price assessments for Canada
The price of jet fuel in Canada is not readily available to the public. JET-A1-FUEL.com provides jet fuel prices per barrel, metric ton, gallon, and liter, but accessing the information requires visiting their website. Similarly, Platts provides daily jet fuel price assessments for Canada, but their data is also restricted.
Platts is a leading energy information provider that publishes the Platts Jet Fuel Price Index, reflecting its daily assessments of jet fuel spot prices in the physical spot markets of relevant regional centers. Each of the individual Platts' assessments is given a weighting in the regional baskets, primarily based on demand for jet fuel in the region. When a market is not assessed on a particular day, the previous working day's spot market price assessment is used.
The Jet Fuel Price Monitor provides the latest price data from Platts. However, historical price data is not available to the public. Those interested in additional fuel price information are directed to visit the Platts jet fuel microsite.
As an example of jet fuel prices in Canada, Air Canada paid nearly 112 Canadian cents for each liter of jet fuel in the fiscal year of 2023, down from 130 cents the previous year.
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COPA's Places to Fly webpage provides airport fuel prices for Canada
The Canadian Owners and Pilots Association (COPA) provides a webpage called "Places to Fly" that offers airport fuel price information for Canada. This webpage is a valuable resource for pilots and aviation enthusiasts, helping them plan their flights and understand the cost of jet fuel at various airports across the country.
While the webpage provides airport fuel price information, the jet fuel prices themselves are determined by various factors and can vary across the country. Jet fuel prices in Canada are influenced by global energy markets and the demand for jet fuel in the region. The prices are typically quoted in Canadian dollars per liter, and they can fluctuate over time, influenced by economic conditions and market dynamics.
One of the leading sources for jet fuel price information in Canada is Platts, a division of S&P Global Commodity Insights. Platts publishes the Jet Fuel Price Index, which reflects its daily assessments of jet fuel spot prices in relevant regional centers. However, Platts does not permit the use of its figures outside of its website, and users must refer to their website for the most recent jet fuel prices.
According to some sources, Air Canada, one of the country's major airlines, has provided data on its average fuel cost per liter. In the fiscal year 2023, Air Canada paid nearly 112 Canadian cents for each liter of jet fuel, a decrease from 130 cents per liter in the previous year. This data highlights the variability in jet fuel prices and how they can be influenced by various factors, including the global energy market and the airline's fuel procurement strategies.
While the COPA "Places to Fly" webpage is a valuable resource for airport fuel price information in Canada, it is always advisable to cross-reference this information with other sources, such as official airport websites or fuel supplier websites, to ensure the most up-to-date and accurate pricing details before planning a flight. Additionally, it is essential to consider the dynamic nature of jet fuel prices, which can fluctuate over time due to market conditions and other factors influencing the aviation industry.
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Frequently asked questions
I cannot find the current jet fuel price per liter in Canada. However, as of 2023, Air Canada paid nearly 112 Canadian cents for each liter of jet fuel.
You can find the current jet fuel price per liter in Canada on the website of the leading energy information provider, Platts.
130 Canadian cents per liter was the highest average jet fuel price paid by Air Canada between 2011 and 2023.
I cannot find the exact average jet fuel price per liter in Canada for 2023. However, as mentioned earlier, Air Canada paid an average of 112 Canadian cents per liter for jet fuel in 2023.
