How Much Do US Airlines Pay For Jet Fuel Per Flight?

Jet fuel is one of the key ingredients that make up air travel. In fact, it may well be the most important – after all, without it, aircraft would not be able to fly. The price of jet fuel is highly volatile and can be greatly affected by external events such as political or economic instability. This, in turn, has a significant impact on the aviation industry as a whole.
The varying cost of jet fuel can greatly impact major carriers such as American Airlines’ operational and financial performance. In this article, we examine the typical jet fuel costs of some of the major airlines in the US. We will also consider what future jet fuel prices might look like and the impact that any changes could have on the industry.
One of the largest individual costs
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Jet fuel represents one of the biggest single outlays for an airline, often totaling billions of dollars per year. This is, of course, together with the cost of purchasing or leasing the aircraft themselves and the costs involved in recruiting and retaining highly skilled and engaged employees.
According to the latest statistics from Statista, carriers worldwide spent a total of $291 billion on jet fuel in 2024. This increased from $271 billion in 2023 and $215 billion in 2022.
Naturally, 2020 and 2021 were anomalies as they were greatly affected by the global downturn in air travel during and just after the pandemic. Airlines worldwide spent a total of $80 billion and $106 billion in these two years, respectively. In 2019, this figure was $190 billion, showing how carriers today are spending more than $100 billion more per year on jet fuel than they were five years ago.
Fuel hedging – it can make or break an airline
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Fuel hedging is when airlines lock in a fixed price for their jet fuel purchases over a given timeframe. This helps them overcome any fluctuations in the market price of jet fuel. For example, an airline may agree to purchase its jet fuel from a given supplier at $500 per ton for three years.
However, it is a very complex technique to get right, and airlines can potentially lose a lot of money if things do not go to plan. But when it does work, they can achieve a significant financial advantage over their competitors.
Using the above example of a pruchase price of $500 per ton:
If a carrier agrees to purchase jet fuel for $500 and prices rise to $700 per ton during that time, it will benefit greatly from its hedging deal.
If prices fall to $300 per ton during that time, the carrier will be at a significant disadvantage and may even fail to survive financially.
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Fuel consumption by US airlines has increased
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According to the Department of Transportation’s Bureau of Transportation Statistics, the total quantity of fuel consumed by US airlines in December 2019, the final ‘normal’ year before the COVID-19 pandemic, was 1.55 billion gallons per month.
However, following several uncertain years throughout the pandemic, fuel usage by US airlines had risen to 1.59 billion gallons per month in December 2024. This represents an increase of 0.04 billion gallons (or 2.7%) over five years.
When comparing December 2024 with the same period in 2023, there was a slight increase from 1.58 billion gallons of jet fuel used by US airlines per month.
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Changes in jet fuel prices over time
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Given that crude oil is used to produce jet fuel, the price of jet fuel is greatly dependent on that of crude oil, and can vary greatly, as shown in the graph below from the International Air Transport Association (IATA):
At the height of the COVID-19 pandemic, when air travel was brought to a standstill across the world, demand for jet fuel plummeted, and so did prices. In May 2020, jet fuel was available for just $200 per metric ton.
However, the sudden surge in demand for air travel following the removal of COVID-related travel restrictions caused prices to rise drastically, peaking in June 2022 at more than $180 per barrel. In addition to fluctuations in demand, geography can also affect jet fuel prices, with differences of up to $12 per barrel between different regions of the world. Unsurprisingly, the Middle East is home to some of the world’s cheapest jet fuel.
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Typical jet fuel costs per flight
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The cost of jet fuel per flight depends greatly on a number of factors, including the length of the flight, the number of passengers onboard, and the aircraft used to operate the flight. Although it is no longer operated by any US airlines, the iconic Boeing 747 provides a clear example of jet fuel prices. When operating a typical flight from New York John F. Kennedy International Airport (JFK) to London Heathrow Airport (LHR), the 747 burns approximately 73,000 kg of fuel. If using the price of $0.67 per kg, this equates to a total cost to the airline of $48,800. With 450 passengers onboard, this works out at $108 in fuel costs per passenger.
When it comes to the Airbus A380, the so-called Superjumbo typically burns 11,000 – 12,000 kg of fuel per hour. On a standard seven-hour flight across the Atlantic, the aircraft burns in the region of $51,000 worth of fuel. However, both aircraft are put to shame by more modern, fuel-efficient twinjets such as the Airbus A321neo. On a similar journey across the Atlantic, the A321neo is estimated to burn just $10,000 worth of fuel, highlighting why the aircraft is becoming ever more popular among both US carriers and others around the world.
A clear comparison between the three aircraft is shown in the table below:
Aircraft Estimated fuel cost of flight from New York to London Boeing 747 $48,800 Airbus A380 $51,000 Airbus A321neo $10,000
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Improved fuel efficiencies
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Modern aircraft, built of light, composite materials and equipped with highly fuel-efficient engines, typically burn much less fuel per flight than their older counterparts. The comparison of the Boeing 747 vs the Airbus A321neo mentioned above is a clear example of this.
As technologies advance and aircraft manufacturers design ever-more fuel-efficient aircraft, it is highly likely that the fuel cost per flight for airlines will continue to decrease. Wingtips and sharklets are one way in which this can be achieved, with the upcoming Boeing 777X’s innovative folding wingtips potentially sparking serious change in how these are used going forward.
The increased use of sustainable aviation fuel (SAF) is also a factor to consider when looking at jet fuel usage and costs. SAF is a key component in helping airlines across the world work towards their sustainability targets. Currently, it is quite expensive to produce, but as it becomes more commonplace and its price drops, it will help airlines to save significant amounts of money on their fuel bills, as well as reduce their environmental impacts.
Relative stability in jet fuel prices – for now
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Since reaching their peak in the summer of 2022, fuel prices have stabilized somewhat. As demand for air travel continues to rise, it is likely that airlines across the US will continue to spend more on jet fuel as they operate more flights.
The cost of jet fuel for US airlines per flight varies greatly, depending on the length of the flight and the aircraft used. For example, a transatlantic flight on a relatively inefficient Boeing 757 is going to cost a lot more in jet fuel than a short hop between the US and Canada on a modern, fuel-efficient Airbus A321neo.
However, in the face of ever-greater political and economic uncertainty, the price of crude oil, and with it jet fuel, is likely to change at short notice. It remains to be seen how airlines across the US and beyond will respond to such changes.