U.S. airlines spent $6.66 billion on jet fuel in May, marking the second consecutive month that monthly fuel expenditures exceeded $6 billion, according to data from the Bureau of Transportation Statistics released Tuesday. This spending represented an 84% increase compared with May 2025, when carriers paid substantially less for fuel.
While the dollar amount spent rose sharply year over year, the volume of jet fuel consumed in May fell slightly. U.S. airlines used 1.627 billion gallons, a 0.6% decrease from the same month in 2025. April also saw a minor decline in consumption compared to the previous year. The rise in costs was largely driven by higher average fuel prices rather than increased usage; the average price per gallon in May was $4.09, slightly lower than April’s $4.11 but still 85% above the $2.21 reported in May 2025.
The recent surge in jet fuel prices has been a significant challenge for the airline industry, which typically allocates a substantial portion of operating costs to fuel. In response, many carriers worldwide have raised ticket prices, imposed additional fees, and reduced flight schedules to offset the impact of rising energy expenses.
The increase in fuel costs has been linked to geopolitical tensions in the Middle East, specifically disruptions in shipping through the Strait of Hormuz, a crucial passage for global crude oil and fuel shipments. This year’s conflict in the region initially drove prices higher, though fuel costs have somewhat eased after the United States and Iran reached an interim ceasefire agreement. Despite this progress, security concerns persist; the British military reported that three tankers were struck by projectiles in the Strait of Hormuz on Tuesday, and the U.S. government revoked a license permitting Iranian oil sales under the ceasefire arrangement.
The latest movements in fuel prices offer a mixed outlook for U.S. carriers as they prepare to release second-quarter earnings. Delta Air Lines is scheduled to report its financial results on Friday, initiating a series of earnings announcements from major U.S. airlines. Industry executives are expected to address how recent declines in jet fuel prices may influence their financial performance going forward.
As of Tuesday, jet fuel cost approximately $2.88 per gallon at major U.S. airline hubs including Chicago, Houston, Los Angeles, and New York, according to the Argus U.S. Jet Fuel Index. This marks a notable decrease from spring peak prices, with costs staying below $3 per gallon since mid-June, offering some relief after several months of elevated expenses.