In May, U.S. airlines allocated a substantial $6.66 billion to jet fuel expenses, marking the second consecutive month where fuel expenditures exceeded $6 billion, according to data unveiled by the government on Tuesday.
This figure for May represents an 84% increase compared to the same month last year. In April, airlines spent slightly less, at $6.47 billion on fuel, as detailed by the Bureau of Transportation Statistics.
The rise in expenses year-over-year is primarily due to the escalating prices of jet fuel rather than a substantial surge in fuel consumption. In May, U.S. airlines utilized 1.627 billion gallons of fuel, representing a 0.6% decline from May 2025. Similarly, April’s consumption also fell slightly compared to the previous year.
On average, airlines paid $4.09 per gallon for fuel in May, which is a marginal decrease from $4.11 in April, yet significantly higher—by 85%—than the $2.21 rate from May 2025, the statistics agency reported.
In reaction to the soaring fuel prices, airlines globally have been adjusting by elevating fares and fees and cutting back on flight schedules. With fuel being a major operational expense, the airline industry is particularly susceptible to fluctuations in energy costs.
The latest figures show that 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.
Fuel prices have eased from their spring highs since 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 Tuesday 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.
Delta Air Lines is set to report its second-quarter financial results on Friday, 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 on Monday in Chicago, Houston, Los Angeles and New York was $2.90, according to the Argus U.S. Jet Fuel Index, which tracks average daily prices across those key hubs.
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.