US Airlines' May Fuel Costs Hit $6.66 Billion, Up 84% Annually
Government data reveals airlines spent over $6 billion on fuel for the second consecutive month, driven by price hikes rather than increased consumption.
U.S. airlines spent $6.66 billion on jet fuel in May, marking the second consecutive month where fuel expenditures exceeded $6 billion, according to data released by the Bureau of Transportation Statistics.
This May figure represents an 84% increase compared to the same period last year. In April, airlines' fuel spending was $6.47 billion.
The surge in year-over-year spending is primarily attributed to higher jet fuel prices, not a significant increase in the volume of fuel consumed. U.S. carriers used 1.627 billion gallons in May, a slight decrease of 0.6% from May 2025. Fuel consumption in April also saw a marginal year-over-year decline.
The average price per gallon of jet fuel in May was $4.09, a slight dip from April's $4.11 but an 85% increase from the $2.21 per gallon paid in May 2025. This sustained rise in fuel costs follows disruptions in global crude and fuel supplies after the conflict in the Middle East impacted shipping routes.
Globally, airlines have responded to elevated fuel prices by increasing fares and fees and reducing flight schedules. Fuel is a significant operational expense for the industry, making carriers particularly susceptible to fluctuations in energy prices.
While fuel prices have eased from their spring peaks following an interim ceasefire agreement between the U.S. and Iran, the situation remains tenuous. Recent reports indicate that three tankers were struck by projectiles in the Strait of Hormuz, and the U.S. has revoked a license permitting Iranian oil sales under the agreement.
Delta Air Lines is scheduled to report its second-quarter financial results, with executives expected to address the potential impact of recent fuel price declines on the industry's financial outlook. The average price for a gallon of jet fuel at key airline hubs, including Chicago, Houston, Los Angeles, and New York, was $2.88 as of Tuesday, according to the Argus U.S. Jet Fuel Index. This price fell below $3 per gallon on June 15 for the first time since early March and has remained under that threshold.