U.S. Airlines Are Spending Over $5 Billion in Fuel

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 Statistics

High 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