U.S. Airlines' December 2023 Fuel Cost per Gallon Down 7.2% from November 2023; Aviation Fuel Consumption Up 2.1% from Pre-Pandemic December 2019Monday, February 5, 2024 The Department of Transportation's Bureau of Transportation Statistics (BTS) today released U.S. airlines' December 2023 fuel cost and consumption numbers indicating U.S. scheduled service airlines used 1.584 billion gallons of fuel, 5.3% more fuel than in November 2023 (1.504 billion gallons) and 2.1% more than in pre-pandemic December 2019. The cost per gallon of fuel in December 2023 ($2.80) was down 22 cents (7.2%) from November 2023 ($3.01) and up $0.79 (39.5%) from December 2019. Total December 2023 fuel expenditure ($4.43B) was down 2.2% from November 2023 ($4.53B) and up 42.4% from pre-pandemic December 2019. Year-over-year changes in fuel consumption and cost for December 2023 include 5.2% increase in domestic fuel consumption, 6.4% decrease in domestic fuel cost, and 11.0% decrease in cost per gallon. Domestic fuel consumption increased 4.0% from November 2023 to December 2023, while decreasing 0.05% from December 2019. Increased fuel consumption reflects an increase in airline passenger travel over the same period.
Total fuel cost for U.S. airlines (total) scheduled service:
Fuel Cost and Consumption data from January 2000 to the present can be found at https://www.transtats.bts.gov/fuel.asp. Summaries by month are also available. Airline fuel costs may be affected by hedging, contracts that allow airlines to limit exposure to future price changes. None of the cost numbers are adjusted for inflation. The month-to-month numbers are not seasonally adjusted. Individual airline numbers through September 2023 are available on the BTS website.
Please Note: The information provided within BTS statistical releases may not be based on 100% of reporting carriers. Generally, data are released per schedule if reports have been received from at least 90% of the carriers, along with data from all the major carriers. Also, within text, percent change results may not be exact due to rounding. ###
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