Jet fuel is one of the major petroleum products produced from processing crude oil in a petroleum refinery. Jet fuel is one of the higher-valued light products (along with gasoline and diesel). It is used primarily in the transportation sector. It is the primary fuel used in jet aircraft, but it is also used in other jet turbine applications. Jet Fuel. Around 10% of the crude oil in a US barrel goes towards jet fuel and powering aeroplanes. Liquefied Petroleum Gases (LPG) LPG, often referred to as simply propane or butane, is a flammable gas, which is used in heating appliances around the home, in stoves and other cooking equipment, or as fuel for cars. Impact of Crude Oil and Jet Fuel Price Returns on Airline Industry Stock Returns: an Investigation Into Market Efficiency. Annals of the International Masters of Business Administration at UNC Wilmington. written by Joseph Calegar. chaired by Cetin Ciner.