SINGAPORE, March 11 (Reuters) - Asia's cash premiums for jet fuel slipped on Friday, but posted a second consecutive weekly gain, while the prompt-month time spread for aviation fuel remained in steep backwardation.

Cash differentials for jet fuel were at a premium of $2.82 a barrel to Singapore quotes, compared with $3.60 per barrel a day earlier. The premiums have surged about 48% this week.

The March/April time spread traded at $7.90 per barrel on Friday, compared with $11.50 a barrel on Thursday. The spread, however, has widened over 73% this week.

Global jet fuel prices have surged to near 14-year highs this week, slamming air carriers and travellers with steep cost increases just as air travel was starting to recover from COVID-19 restrictions. read more

Refining margins, or cracks, for jet fuel dropped to $14.26 per barrel over Dubai crude on Friday, down from Thursday's $25.77 a barrel, and drifting away from a record high of $36.04 per barrel hit on Wednesday.

Cracks for the benchmark 10 ppm gasoil grade in Singapore dropped to $22.16 a barrel over Dubai crude during Asian trading hours, compared with $35.77 per barrel a day earlier. The gasoil cracks too touched an all-time high of $44.04 per barrel on Wednesday.

- Gasoil stocks held independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub dropped 1.7% to 1.6 million tonnes in the week ended March 10, according to Dutch consultancy Insights Global.

- Gasoil stocks fell as demand up the Rhine River slightly increased, Insights Global's Lars van Wageningen said.

- ARA jet fuel inventories fell 2.5% this week to 836,000 tonnes.

- No jet fuel trades, no gasoil deals

- Oil prices rose on Friday but were on track for their biggest weekly declines since November after see-sawing on fears of escalating bans on Russian oil versus efforts to bring more supply to market from other major producers.

- Oil majors BP and Shell have not offered spot diesel cargoes for sale on the German market for the last two weeks, for fear of a supply shortage, two traders said on Thursday. read more

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