US jet fuel imports are soaring this March, hitting their highest level in two years. This development, which analysts suggest could drive down the price of aviation fuel in the US, is partially attributable to Nigeria’s Dangote refinery. In March alone, six vessels delivered 1.7 million barrels of jet fuel from the Lagos-based refinery to US ports, with more on the way. Consequently, US jet fuel imports for March have risen so far to an average of 226,000 barrels per day. However, the situation is transient: US demand for Dangote’s jet fuel arose from the temporary shutdown of New Jersey-based Phillips 66 Bayway refinery, and it is expected to drop once the refinery is operational again. Nevertheless, the import spike signals Dangote’s growing influence in global energy markets.
Source: Business Insider Africa
