US airlines spent more than $6 billion on jet fuel in April, up 78% from a year earlier despite using slightly less fuel, government data released Monday showed. Since conflict erupted in the Middle East earlier this year after the US and Israel launched strikes on Iran, much of the shipping traffic through the Strait of Hormuz—a critical oil transit route bordering Iran—has remained effectively halted, pushing up the price of oil and jet fuel. "Airlines are bearing the brunt of the fuel price shock," said Willie Walsh, director general of the International Air Transport Association, which represents most of the world's carriers, the AP reports. "While airfares are rising, airlines are still absorbing part of the hike in their bottom lines."
The carriers spent about $3.6 billion a year earlier, according to the Bureau of Transportation Statistics. Fuel consumption in April totaled 1.573 billion gallons, down slightly from 1.575 billion gallons a year earlier. On Sunday, the IATA released a report saying it now expects airlines worldwide to earn a combined $23 billion in net profit in 2026, far below its previous forecast of $41 billion and down from $45 billion in 2025. The group said jet fuel prices are expected to average $152 a barrel in 2026, nearly 70% higher than in 2025, pushing the global airline fuel bill to about $350 billion from $252 billion a year earlier. IATA said that fuel is forecast to account for more than 31% of airline operating expenses in 2026, up from about 25% last year. In the US, the cost of a gallon of jet fuel in April was $4.11, the bureau said. Last April, it cost $2.31.
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