U.S. airline fuel cost per gallon in May 2024 down 3.8% from April 2024; jet fuel consumption up 4.0% from May 2019, pre-pandemic

Tuesday, July 9, 2024

This version is published on a scheduled basis in accordance with Office of Management and Budget requirements, and the statistics in this version are subject to change as the input data for the statistics are revised or updated. The data on the program page of this website is the most current and complete.

The Department of Transportation’s Bureau of Transportation Statistics (BTS) today released U.S. airline fuel costs and consumption data for May 2024, showing that U.S. scheduled airlines used 1.646 billion gallons of fuel, up 5.1% from April 2024 (1.567 billion gallons) and up 4.0% from May 2019, before the pandemic. The cost of a gallon of fuel in May 2024 ($2.65) decreased 10 cents (3.8%) compared to April 2024 ($2.75) and increased $0.53 (25.2%) compared to May 2019. Total fuel spending in May 2024 ($4.36 billion) increased 1.1% compared to April 2024 ($4.31 billion) and increased 30.2% compared to May 2019 before the pandemic.

Year-over-year changes in fuel consumption and costs for May 2024 include a 4.7% increase in domestic fuel consumption, a 13.1% increase in domestic fuel cost, and an 8.0% increase in cost per gallon. Domestic fuel consumption increased 4.4% from April 2024 to May 2024, while it increased 4.2% from May 2019. The increased fuel consumption reflects an increase in the number of passengers traveling by airline during the same period.

Fuel used by US airlines (total) on scheduled flights:

May 2019 1.58 billion gallons
May 2023 1.57 billion gallons
April 2024 1.57 billion gallons
May 2024 1.65 billion gallons

Fuel cost per gallon for scheduled US airline flights (total):

May 2019 2.11 PLN
May 2023: $2.44
April 2024 $2.75
May 2024 $2.65

Total fuel cost for scheduled US airline flights (total):

May 2019 $3.35 billion
May 2023 $3.82 billion
April 2024 $4.31 billion
May 2024 $4.36 billion

Fuel cost and consumption data from January 2000 to the present can be found in the Monthly Summaries section.

Jet fuel costs may be covered by hedges, contracts that allow airlines to limit their exposure to future price changes. None of the cost figures are adjusted for inflation. Monthly figures are not seasonally adjusted.

Individual airline numbers until March 2024 are available on the BTS website.

Please note:

The information provided in BTS statistical releases may not be based on 100% of reporting carriers. In general, data is released on schedule if reports have been received from at least 90% of carriers, along with data from all major carriers. The following carrier is pending for this release: Swift Air, LLC (09Q). In addition, the percentage change results in the text may be inaccurate due to rounding.