Key facts
- U.S. airlines' fuel expenditure in May reached $6.66 billion.
- This represents an 85% increase compared to the previous year.
- The cost per gallon of jet fuel in May was $4.09.
- Fuel consumption increased by 4.0% from April 2025 to May 2025.
Fuel costs for U.S. airlines surged by 85% in May, reaching nearly $6.7 billion, according to the U.S. Transportation Department. This significant increase is attributed to rising oil prices driven by geopolitical tensions, with the cost per gallon of jet fuel climbing to $4.09.
In May 2026, airlines spent $6.66 billion on fuel, a substantial rise from $3.62 billion in May 2025. The cost per gallon in May 2026 was $4.09, an increase of $1.88 from May 2025. Fuel consumption also saw a slight increase, with airlines using 1.627 billion gallons in May 2026 compared to 1.639 billion gallons in May 2025.
While recent tensions between Iran and the United States have eased, leading to a sharp fall in jet fuel costs in recent weeks, the May figures reflect the elevated prices during that period. Airline fuel costs can be influenced by hedging and contracts that limit exposure to future price changes.