America: Jet fuel costs increased by 56 percent in March
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WASHINGTON, May 6 (Reuters) - Major U.S. airlines spent just over $5 billion on jet fuel in March, up $1.8 billion, or 56 percent, from February, the Transportation Department said on Wednesday.
The cost of a gallon of fuel in March was $3.13, up 74 cents, or 31 percent, from February. The ministry added that fuel consumption rose 20 percent in March.
Disruptions to shipping through the Strait of Hormuz due to the Israeli-American war on Iran have thrown global oil markets into turmoil. The surge in jet fuel prices has triggered the biggest crisis facing the air travel industry since the COVID-19 pandemic.
Airlines spent $3.88 billion on jet fuel in March 2025, significantly less than the $5.06 billion they spent in March of this year.
Major US airlines have raised airfares and baggage fees, canceled some flights, and taken other measures to cut costs. Fuel accounts for up to a quarter of airlines' operating expenses.