Jet Fuel Closes Up 13 Cents on the Day: $3.22/gallon
New York Harbor Jet picked up another 13 cents in trading today. Closed at $3.22/gallon.
Last week Southwest Airlines CEO Gary Kelly said the airline would not reassess its capacity plans unless fuel hit $3.30 a gallon. Looks like that day could come sooner than he had anticipated.
Meanwhile, American Airlines became the second major US carrier (behind Delta who did so in February) to announce a cutback in 2011 capacity as a result of higher fuel prices.