Global jet fuel demand was 1.4% lower in the second quarter of 2012 versus last year despite healthy growth in the Far East and non-US Americas. Demand in the giant US market fell 2.4% in the second quarter despite a slight uptick in June. That contrasts sharply with demand growth in Canada, Brazil and Mexico. UK June weakness brought down the European average as economic recession and the Queen’s Diamond Jubilee discouraged overseas travel. High fuel prices took their toll on Indian jet demand, which fell 8.3% in the second quarter. But the jet market continues to expand further east, led by South Korea, which continues to report double-digit growth versus last year.
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