Airlines’ fuel spending up 84 percent in past year

U.S. airlines paid billions of dollars more for jet fuel in May, in the second consecutive month that fuel costs exceeded $6 billion, according to government data released Tuesday.

The Bureau of Transportation Statistics found that airlines spent $6.6 billion on jet fuel in May, an 84 percent increase from one year ago. In April, airlines spent $6.47 billion on jet fuel.

The increase was driven almost entirely by the rising cost of fuel rather than demand. Airlines consumed 1.627 billion gallons in May, down 0.6 percent from a year earlier, while the average price paid for jet fuel climbed to $4.09 per gallon — nearly double the $2.21 per gallon airline carriers paid in May 2025.

The latest figures show the financial pressure and vulnerabilities airlines faced after energy markets were rattled in the wake of the Iran war, which caused fuel prices to skyrocket after the Strait of Hormuz’s closure disrupted global maritime shipping.

The strait is a vital shipping corridor for global trade, where 20 percent of the world’s oil supply passes through.

Fuel is one of the industry’s biggest operating expenses, and higher costs have crippled the sector, forcing carriers to raise fares and cut flights in order to compensate.

Spirit Airlines, the premier American budget carrier, shut down in May, citing rising fuel prices as a major factor in its closure as well as a failure to secure a buyout from the Trump administration.

While prices have cooled in recent weeks, they still remain well above the levels they were a year ago. The Argus U.S. Jet Fuel Index on Tuesday put the average price across major hubs in Los Angeles, Chicago, Houston and New York at $2.88 per gallon. In mid-June, the price fell below $3 per gallon for the first time since early March.

Delta Airlines is expected to release its second-quarter financial results later this week, along with a slate of reports from other carriers that will soon follow, which will give a closer look at how the rising fuel prices from the Iran war have impacted the industry as a whole.