Argus U.S. Jet Fuel Index

U.S. airlines spent $6.66 billion on jet fuel in May, an 84% increase from May 2025, driven by higher fuel prices despite a 0.6% decline in consumption. Rising costs have led airlines to raise fares, cut flights, and face vulnerability due to energy price volatility linked to the Middle East conflict and the Strait of Hormuz disruptions.

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.

U.S. airlines spent $6.66 billion on jet fuel in May, an 84% increase from May 2025, driven by higher prices rather than increased consumption. Fuel costs have risen due to disruptions in the Strait of Hormuz from the Middle East conflict, though recent declines in prices offer some relief to airlines.