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Thursday, October 15, 2009
Jet Fuel Prices Fell 75% In August
By Christopher Hinton
MarketWatch Pulse
NEW YORK -- The cost of jet fuel fell about 75% in August to $2.02 a gallon, versus $3.54 a gallon in the year-ago period, the Bureau of Transportation Statistics said Thursday. In July, the price of jet cost U.S. airlines $1.90 a gallon. Benchmark crude prices fell about 5% in August to end the month at $68.45 a barrel. Since Sept. 1, the price of crude has climbed nearly 10% to trade most recently at $75.20 a barrel as traders bet on increased demand.
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