Aviation Fuel News
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The law that ended furloughs of U.S. air-traffic controllers covers most of the cost largely by taking about $250 million from airport construction-project funding this fiscal year, according to trade groups.
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The Senate halted efforts to legislate an immediate end to furloughs of air-traffic controllers, as delays blamed on staffing shortages continued at some of the largest U.S. airports.
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Two U.S. senators introduced a bill today to let the Federal Aviation Administration use airport- improvement funds to pay air-traffic controllers, as efforts accelerated to end flight delays caused by forced budget cuts.
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Chicago jet fuel weakened versus futures to the lowest level in almost three months as inventories of the area’s aviation fuel grew. Gasoline in the region also declined.
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The ruling Democratic Party of Japan’s tax panel recommended a reduction in aviation fuel tax as part of its fiscal 2011 reform proposals, Nikkei English News said, without citing anyone.
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The Standard & Poor’s GSCI gauge of 24 commodities rises 0.2 percent to 651.17 at 4:54 p.m. Singapore time. The UBS Bloomberg CMCI index of 26 raw materials gains 0.04 percent to 1,552.670.
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United Airlines Inc. used a “sham” site outside Chicago to avoid paying the full tax on jet fuel, the Illinois Regional Transportation Authority said in a lawsuit.
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Jet fuel weakened on the U.S. Gulf Coast as the region’s inventories rose to the highest level in three months.
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Jet fuel in New York Harbor strengthened to the highest level against futures in almost a month as inventories slumped.
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BP Plc, the U.K.’s biggest oil company, bought aviation-fuel assets in Brazil from Royal Dutch Shell Plc and Cosan SA Industria & Comercio for $100 million.
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