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U.S. airlines’ monthly fuel spending in May leaps 84%
Increase to $6.66 billion has been driven mostly by pricier jet fuel
Key Takeaways:
- U.S. airlines spent $6.66 billion on jet fuel in May, the second straight month above $6 billion, as reported by the Bureau of Transportation Statistics on July 7.
- Higher spending was driven by prices rising 85% year over year to $4.09 per gallon while consumption declined slightly, reflecting energy market disruptions tied to Middle East conflict.
- Airlines and investors are watching easing fuel prices and upcoming earnings, including Delta Air Lines’ July 10 report, for signals on how costs will shape industry finances.
U.S. airlines spent $6.66 billion on jet fuel in May, the second straight month that fuel costs topped $6 billion, according to government data released July 7.
The May figure was 84% higher than a year earlier. Airlines spent $6.47 billion on fuel in April, the Bureau of Transportation Statistics said.
The higher year-over-year spending has been driven mostly by pricier jet fuel rather than a significant increase in how much of it airlines consumed. U.S. carriers used 1.627 billion gallons in May, down 0.6% from May 2025. Consumption was also slightly lower in April compared with a year earlier.
The average price airlines paid for fuel in May was $4.09 per gallon, down slightly from $4.11 in April but 85% higher than the $2.21 they paid in May 2025, the agency said.
Airlines worldwide have responded to the jump in fuel prices by raising fares and fees and trimming flight schedules. Fuel is typically one of the industry’s largest operating costs, leaving carriers particularly vulnerable to swings in energy prices.
The latest figures show the continued impact of the sharp rise in energy costs after the conflict in the Middle East started this year and disrupted shipping through the Strait of Hormuz, a key route for global crude and fuel supplies.
BTS Data Release: U.S. Airlines’ May 2026 Aviation Fuel Cost up 3.0%, Consumption up 3.5%, and Fuel Cost per Gallon down 0.5% from April 2026
Cost per gallon of fuel in May 2026 ($4.09) was down $0.2 (0.5%) from April 2026 ($4.11) and up $1.88 (85.0%) from May 2025 ($2.21).… pic.twitter.com/NRfQcuFLE1 — Bureau of Transportation Statistics (BTS) (@bts_usdot) July 7, 2026
Fuel prices have eased from their spring highs after the U.S. and Iran reached an interim ceasefire agreement, offering some relief to airlines after a costly spring. But the truce remains fragile.
Three tankers were struck by projectiles July 7 in the Strait of Hormuz, according to the British military, and the U.S. revoked a license that had allowed Iranian oil sales under the agreement.
READ MORE: BP drove up European jet fuel output by 30% during Iran war
Delta Air Lines is set to report its second-quarter financial results on July 10, kicking off a wave of earnings reports from U.S. carriers. Executives are expected to discuss how recent declines in fuel prices could affect the industry’s finances going forward.
The average price for a gallon of jet fuel was $2.88 across the key airline hubs of Chicago, Houston, Los Angeles and New York on July 7, according to the Argus U.S. Jet Fuel Index. The price fell under $3 a gallon June 15 for the first time since early March and has remained below since.
