U.S. Airlines' May 2024 Fuel Cost per Gallon down 3.8% from April 2024; Aviation Fuel Consumption up 4.0% from Pre-Pandemic May 2019Tuesday, July 9, 2024
The Department of Transportation's Bureau of Transportation Statistics (BTS) today released U.S. airlines' May 2024 fuel cost and consumption numbers indicating U.S. scheduled service airlines used 1.646 billion gallons of fuel, 5.1% more fuel than in April 2024 (1.567 billion gallons) and 4.0% more than in pre-pandemic May 2019. The cost per gallon of fuel in May 2024 ($2.65) was down 10 cents (3.8%) from April 2024 ($2.75) and up $0.53 (25.2%) from May 2019. Total May 2024 fuel expenditure ($4.36B) was up 1.1% from April 2024 ($4.31B) and up 30.2% from pre-pandemic May 2019. Year-over-year changes in fuel consumption and cost for May 2024 includes 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 increasing 4.2% from May 2019. Increased fuel consumption reflects an increase in airline passenger travel over the same period.
Fuel consumed by U.S. airlines (total) scheduled service:
Fuel cost per gallon for U.S. airlines (total) scheduled service:
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 March 2024 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. Regarding this release, the following carrier remain pending: Swift Air, LLC (09Q). Also, within text, percent change results may not be exact due to rounding.
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