US airlines’ monthly fuel spending topped $6 billion again in May, up 84% from year ago

U.S. airlines spent $6.66 billion on jet fuel in May 2026, an 84% increase from May 2025, driven by higher fuel prices rather than increased consumption. Fuel prices averaged $4.09 per gallon, 85% higher than the previous year, while consumption slightly declined. The rise in costs is linked to disruptions in the Strait of Hormuz due to Middle East conflicts, though recent declines in fuel prices offer some relief.