Houston — US airlines spent $3.64 billion on jet fuel in July, up from $3.51 billion in June, Bureau of Transportation Statistics data showed Wednesday. BTS said the per-gallon cost held steady, with airlines spending an average of $2.20/gal on jet fuel in July, down 1 cent from June.
But fuel consumption rose because of peak summer travel demand.
Airlines consumed 1.65 billion gallons of jet fuel in July, up from 1.59 billion gallons in June and up from 1.61 billion gallons in July 2017. They spent $2.49 billion in July 2017.
S&P Global Platts assessed the outright price of benchmark Gulf Coast jet fuel on Colonial Pipeline at an average of $2.0985/gal during July, up from $2.088/gal during June.
Increasing fuel costs have plagued US airlines throughout the year, with many curtailing underperforming routes or eliminating them altogether. July's $2.20/gal was up sharply from $1.55/gal in July 2017, BTS data showed.
