JP54 is an abbreviation for "Jet Propulsion, A1, Colonial Grade 54".  JP54 powers gas turbine aircraft engines.  Jet A and A-1 have specifications that can be used in fuel worldwide.  Jet B is used in cold weather elements.  Commonly a number of different mixtures make up jet fuel and this relates to flashpoints and how carbon numbers are distributed.

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"JP54" or "Colonial Grade 54" is similar to "Jet A" except the specific energy is 18.4 mj/kg compared to that of 42.8 mj/kg of "Jet A".