U.S. Airlines Are Spending Over $5 Billion in Fuel, Up More Than 50% Since the Iran War Started
Photo Credit: Multiple airlines at their gates at Los Angeles international airport. Adobe Stock / Thiago Thivisan
Skift Take
In just the span of two months fuel costs are up more than double since the start of the Iran war, according to new data from the Department of Transportation.
In just two months since the Iran war started, fuel costs for airlines have risen sharply.
Fuel costs for the U.S. airline industry have ballooned by more than 56% as of March, according to data from the federal government. The sector spent $5.06 billion on fuel in the month, up from $3.23 billion in February.
The Department of Transportation’s Bureau of Transportation Statistics said Wednesday that the average cost of a gallon of jet fuel fuel was up 30.9% as of March.
The average price of jet fuel in March was $3.13 a gallon. / Department of Transportation Bureau of Transportation StatisticsHigh fuel costs have already led to fare and ancillary fee increases in the industry. Multiple executives said during first-quarter earnings calls that there had already been five broad industry-wide fare increases. And major carriers, including American, Delta, United, Southwest, J
