Delta Air Seeks North Dakota Crude
Delta Air Lines Inc. (NYSE: DAL) will move further into the oil refinery business as a means to keep its fuel costs low. While other airlines have not followed into the business, the play could give Delta an edge if what it pays for jet fuel drops considerably because it has its own source. According to the Washington Post:
Delta Air Lines is looking into buying cheaper North Dakota crude oil to feed its new refinery near Philadelphia, instead of the more expensive overseas crude that has fed the refinery in the past.
Delta bought the idled refinery at Trainer, Pa., in June.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, Airlines, Oil & Gas Tagged: DAL
