Delta plans to buy a refinery to reduce jet fuel bill

TRAINER, Pa. - Commercial airlines spend a lot of time and energy looking for ways to cut down on their fuel expenses, and Delta may be going to the biggest extreme yet. The airline announced Monday that it plans to buy a refinery near Philadelphia.

Delta plans to purchase the refinery from Conoco Phillips for $150 million.

The deal could reportedly help Delta to cut its fuel bill by $300 million a year.

A Delta subsidiary will spend $100 to make changes to the refinery in order to maximize the production of jet fuel.

The trainer refinery could cover up to 80 percent of Delta's U.S. jet fuel requirements.

Delta Airlines burned almost 4 billion gallons of jet fuel last year at a cost of over $11 billion.

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