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  "documentTitle": "2025 Q3 Supplemental",
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  "authorName": "Alaska Air Group",
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  "notes": "Data source: FIS Global Kiodex and Platts S&P Global Commodity Insights.",
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      "text": "Recent volatility in West Coast refining margins driven by continued supply disruptions are likely to result in elevated costs for the remainder of the year",
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      "text": "Crude oil prices declined marginally throughout the quarter, down ~4% versus June. West Coast refining margins remained elevated throughout Q3 2025, averaging $0.75. Recent volatility in West Coast refining margins driven by supply disruptions.",
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      "text": "Fuel Costs",
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