U.S. 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. Meanwhile, the airline industry’s top global trade group warned that soaring energy costs could nearly halve profits in 2026.
Since conflict erupted in the Middle East earlier this year after the U.S. 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.
