By Shariq Khan and Seher Dareen

NEW YORK (Reuters) – U.S. refiners pumped out jet gas final week on the quickest tempo for the reason that pandemic, authorities information confirmed, as they appear to maintain up with forecasts of document air journey this summer season.

U.S. refiners’ web manufacturing of jet gas hit about 1.9 million barrels per day (bpd) final week, 8% increased than the identical time final 12 months and the very best weekly whole since January 2020, information from the U.S. Power Info Administration confirmed on Thursday.

Authorities businesses and journey teams are making ready for a document variety of passengers at airports via the summer season, lifting jet gas consumption above its pre-pandemic peak for the primary time. Motorist group AAA expects a document 5.74 million individuals to fly to their locations across the July 4 vacation.

International jet gas demand has now surpassed its pre-pandemic ranges for the primary time, in line with a JPMorgan analysis revealed on Thursday.

U.S. four-week common jet gas demand of 1.75 million bpd over the past week was additionally the very best for this time since 2019, in line with U.S. Power Info Administration information.

Greater refinery output ought to assist preserve the market equipped properly sufficient to match the anticipated surge in demand over the vacations, stated Matias Togni, founder at vitality research agency Galpon Transport & Trading.

U.S. refiners have added over 2 million barrels of jet gas to stockpiles for the reason that begin of the 12 months. That introduced inventories to 41.95 million barrels by June 14, 2% increased than final 12 months and in step with the previous 5 years’ seasonal common.

Home airfares across the July 4 vacation are 2% decrease than final 12 months, AAA famous, even because the flight tracker Airportia confirmed whole U.S. flights are up 1% from final 12 months.

Airportia tracked 30,264 U.S. flights on Thursday, a 7.2% improve from the identical time final 12 months.