Katerina Swanson
The cost of jet fuel is a dynamic figure that fluctuates with market conditions, supply and demand, location, and time of year. As of January 2022, jet fuel prices stood at around $816 per metric tonne, or $0.82 per KG, with regional variations. For instance, private jet fuel prices in the US range from $4.5 to $7 per gallon, while jet fuel in smaller regional airports tends to be more expensive due to lower availability. These prices can be hedged by airlines to reduce risk and fixed costs, but the cost of jet fuel remains a critical component in the operational expenses of airlines.
| Characteristics | Values |
|---|---|
| Global average jet fuel price | $90.21/bbl |
| Jet A1 price as of January 2022 | $816 per metric tonne |
| Jet A1 price in May 2020 | $200 per metric tonne |
| Jet A1 price in January 2021 | $430 per metric tonne |
| Cost of fuel for a Boeing 747-400 from London to New York | £53,500 |
| Cost of fuel per person on a Boeing 747-400 from London to New York with 450 passengers | £118 |
| Cost of filling an A380 with fuel | £205,000 |
| Private jet fuel cost per gallon | $3 to $8 |
| Private jet fuel cost per gallon in a range | $4.50 to $7.00 |
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What You'll Learn
Jet fuel price varies by region and airport size
As of January 2025, the Middle East has the lowest jet fuel prices, averaging $92.93 per barrel of crude oil, or 221.26 cents per gallon. This gives Middle Eastern carriers such as Emirates, Qatar Airways, and Saudia a significant advantage over airlines based in other parts of the world.
In contrast, Latin America currently has the highest market prices for jet fuel, affected by fuel supply chain issues and protests. This particularly impacts airlines based in the region, such as LATAM, avianca, and Aeroméxico.
The price of jet fuel can vary by region and is often influenced by political and natural events worldwide. For example, the Jet Fuel Price Index published by S&P Global Platts reflects daily assessments of jet fuel spot prices in relevant regional markets. When a market is not assessed on a particular day, such as during holidays, the previous working day's price assessment is used. These individual assessments are weighted based on regional demand and compared to average spot prices in 2000 to calculate the overall price increase.
The price of jet fuel can also vary depending on the airport's location and size. For instance, the price of jet fuel in the United States is averaged over 3,235 FBOs (Fixed-Base Operators) reporting aircraft fuel prices over the past 30 days. However, it's important to note that fuel prices from government sources may not always be accurate or complete, and other factors can influence the final cost.
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Jet fuel price is influenced by supply and demand
The price of jet fuel is influenced by a complex interplay of factors, with supply and demand being key determinants. As a critical component of the global travel industry, jet fuel prices can have a significant impact on the economy and businesses.
Demand for jet fuel is influenced by a range of factors, including the volume of air travel, the efficiency of aircraft, and the availability of alternative fuels. For instance, during holiday periods, demand for air travel increases, which can lead to a corresponding increase in jet fuel prices. However, these demand increases are often short-lived and dissipate once the holiday period ends. Additionally, the demand for jet fuel is influenced by its essential role in powering cargo planes that facilitate the rapid transportation of goods over long distances. This demand dynamic further underscores the significance of jet fuel in global commerce.
On the supply side, jet fuel production is a vital component of the oil industry, with the United States producing approximately 1.5 million to 1.75 million barrels per day. While this volume is lower than that of other distillate fuels and gasoline, jet fuel constitutes a crucial segment of the market. The susceptibility of jet fuel to supply issues is notable, and even minor disruptions in supply can cause significant price fluctuations. For instance, the northeast region of the United States has experienced substantial spikes in jet fuel costs due to short supplies. Refinery issues, downtime, and disruptions caused by hurricanes during the busy travel season can also impact jet fuel prices.
The relationship between supply and demand shocks and jet fuel prices is intricate. While oil supply shocks may not significantly affect jet fuel prices, demand shocks, whether in aggregate or stemming from precautionary measures, can lead to rising prices. Jet fuel demand and supply shocks have a substantial impact on jet fuel prices, as evidenced by the positive correlation between these factors.
The Platts Jet Fuel Price Index, published by S&P Global Platts, provides daily assessments of jet fuel spot prices in relevant regional markets. These assessments consider the demand for jet fuel in each region, with each regional index weighted in the Global Composite Index. By comparing current prices to the average spot prices in 2000, the index offers valuable insights into the overall rise in jet fuel markets over time.
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Jet fuel price per gallon
The price of jet fuel per gallon varies depending on the region and the source of the fuel price data.
According to GlobalAir.com, the national average price for jet fuel in the US is $6.26 per gallon. However, the price of jet fuel can vary by region, with the FAA Alaska region reporting the highest jet fuel price at an average of $8.09 per gallon, and the FAA Central region reporting the lowest price at an average of $5.52 per gallon.
On the other hand, the Jet Fuel Price Monitor, a joint initiative by IATA and Platts, reported that the global average jet fuel price for a particular week was $90.21/bbl. While this price is given per barrel and not per gallon, it still provides an indication of the overall jet fuel price trend.
It is worth noting that jet fuel prices can fluctuate over time and may be influenced by various factors such as demand, supply, and market conditions. Additionally, the prices provided by different sources may vary due to differences in data sources and calculation methods. Therefore, it is essential to consider the specific date, region, and source when discussing jet fuel prices.
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Jet fuel price per metric tonne
The price of jet fuel per metric tonne varies depending on the region and the demand in that region. The price also depends on what price the airlines have "hedged" the fuel at. Hedging is when an airline agrees on a constant price for fuel for a set period of time in the future. For example, an airline might hedge 5 million tonnes of fuel at $600 per metric tonne for 12 months. In this case, the airline will pay $600 per metric tonne regardless of any fluctuations in the fuel price during that time.
As of January 2022, the price of Jet A1 was approximately $816 per metric tonne. This is about double what it was a year before in January 2021 when the price was approximately $430 per metric tonne. Due to the collapse in oil prices brought about by the Covid-19 pandemic, at one point in May 2020, Jet A1 was as low as $200 per metric tonne.
The Jet Fuel Price Index and price data reflect the average prices paid at the refinery for aviation jet fuel for the reported week. The global average jet fuel price for the week ending 10 July 2025 rose 0.5% compared to the previous week to $90.21 per barrel.
The price of jet fuel is closely aligned with the price of oil, which varies daily. The price of jet fuel does not include the cost of delivering the fuel or the fee to refuel the aircraft.
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Jet fuel price compared to historical data
The price of jet fuel has been steadily increasing since the turn of the century. The 2010s saw prices at six times the level they were in the 1990s, with prices experiencing large fluctuations. Fuel accounts for about 40% to 50% of the operating costs of a single flight, depending on the type of plane used.
The Jet Fuel Price Index provides weekly updates on the price of jet fuel, the price index, the yearly price average, and the impact on the fuel bill of the global airline industry. The global average jet fuel price last week was $90.21 per barrel, a 0.5% increase compared to the previous week.
Platts Jet Fuel Price Index, published by S&P Global Platts, reflects daily assessments of jet fuel spot prices in the physical spot market of relevant regional centers. Each of these individual Platts assessments is given a weighting in regional baskets, primarily based on regional demand for jet fuel.
Values are compared with the average spot prices in 2000, weighted similarly by demand during that period, to generate a percentage figure reflecting the overall rise in markets compared to the base period. For example, an index value of 200 would reflect a doubling of the price since the year 2000.
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Frequently asked questions
The cost of jet fuel in the US varies depending on the region and the type of jet fuel. As of May 2025, the cost of private jet fuel generally ranges from $4.50 to $7.00 per gallon.
As of January 2022, the price of Jet A1 was approximately $816 per metric tonne, which is about double the price from January 2021.
An A380 can hold approximately 315,000 litres of fuel, which would cost approximately £205,000 to fill up.
A Boeing 747-400 Jumbo Jet flying from London to New York burns approximately 70,000 kilograms of fuel, costing about £53,500. This equates to £118 per person, based on 450 passengers.
