US airlines’ fuel spending jumps 84% in May to $6.7B

US airlines’ total fuel spending surged 83.9% year-on-year in May to $6.7 billion, driven by a sharp rise in jet fuel prices amid higher oil costs and supply concerns linked to the Middle East conflict, official data showed Tuesday.

The US Department of Transportation’s Bureau of Transportation Statistics said scheduled US airlines’ total fuel expenditure rose to $6.66 billion in May from $3.62 billion in the same month last year.

The figure was also up 3% from $6.47 billion in April.

The rise came as crude oil and refined fuel markets remained under pressure from supply disruptions and geopolitical risks in the Middle East, a key region for global energy exports.

The US Energy Information Administration said earlier that gasoline, distillate and jet fuel spot prices had increased rapidly after disruptions to Middle East crude oil and petroleum product exports, noting that higher crude prices feed into refined products because crude oil is typically the largest input cost for producing petroleum products.

Volatile week

Oil prices remained volatile this week as renewed tensions around Iran and attacks on vessels near the Strait of Hormuz revived concerns over possible disruptions to global energy supplies.

During the Iran war, the Brent crude prices rose as high as $120 per barrel before stabilizing around $70 with the peace talks.

However, the international benchmark rose above $76 per barrel on Wednesday after fresh US strikes on Iran and renewed shipping security concerns in the strategic waterway, through which a large share of global oil trade passes.

US scheduled airlines consumed 1.63 billion gallons (6.17 billion liters) of fuel in May, 3.5% higher than in April but 0.6% lower than in May 2025.

The cost per gallon of fuel stood at $4.09 in May, down 0.5% from $4.11 in April.

On an annual basis, however, the fuel cost per gallon jumped 85% from $2.21 in May last year.

Fuel is one of airlines’ largest operating expenses, making carriers highly exposed to swings in crude oil and jet fuel prices.

It also said Alaska Airlines and Hawaiian Airlines, following their merger, now report combined fuel data under Alaska Airlines.