U.S. Airlines’ June 2023 Fuel Cost per Gallon Down 0.7% from May 2023; Aviation Fuel Consumption Down 1.1% from Pre-Pandemic June 2019

 

On Aug 2, released U.S. airlines’ June 2023 fuel cost and consumption numbers indicating U.S. scheduled service airlines used 1.597 billion gallons of fuel, 2.0% more fuel than in May 2023 (1.566 billion gallons) and 1.1% less than in pre-pandemic June 2019. The cost per gallon of fuel in June 2023 ($2.42) was down 2 cents (0.7%) from May 2023 ($2.44) and up $0.42 (20.7%) from June 2019. Total June 2023 fuel expenditure ($3.87B) was up 1.3% from May 2023 ($3.82B) and up 19.4% from pre-pandemic June 2019.

Year-over-year changes in fuel consumption and cost for June 2023 include 9.3% increase in domestic fuel consumption, 33.9% decrease in domestic fuel cost, and 39.5% decrease in cost per gallon. Domestic fuel consumption increased 1.6% from May 2023 to June 2023, while decreasing 0.2% from June 2019. Increased fuel consumption reflects an increase in airline passenger travel over the same period.

 

  

Fuel consumed by U.S. airlines (total) scheduled service:

June 2019:     1.62 billion gallons

June 2022:     1.44 billion gallons 

May 2023:      1.57 billion gallons

June 2023:     1.60 billion gallons

 

 

 

Fuel cost per gallon for U.S. airlines (total) scheduled service:

June 2019:     $2.01 

June 2022:     $4.04 

May 2023:      $2.44 

June 2023:     $2.42

 

Total fuel cost for U.S. airlines (total) scheduled service:

June 2019:     $3.24 billion 

June 2022:     $5.83 billion 

May 2023:      $3.82 billion 

June 2023:     $3.87 billion

 

Fuel Cost and Consumption data from May 2000 to the present can be found at https://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

Tags: US DOT, Department of Transportation’s Bureau of Transportation Statistics (BTS)