US airline fuel costs surge 78% as Middle East conflict drives global profit forecast down
By
Rio Yamat, Ap Airlines, Travel Writer
Fresh out the oven, still warm. Top of the tray.
Summary
U.S. airlines spent over $6.5 billion on jet fuel in April 2026, a 78% increase year-over-year despite using slightly less fuel, according to new government data. The spike is driven by Middle East conflict disrupting oil transit through the Strait of Hormuz. The International Air Transport Association slashed its global profit forecast for 2026 from $41 billion to $23 billion, warning fuel prices could average $152 per barrel and push the industry's fuel bill to roughly $350 billion.
Key quotes
· 3 pulledU.S. airlines spent more than $6 billion on jet fuel in April, up 78% from a year earlier despite using slightly less fuel.
The airline industry's top global trade group warned that soaring energy costs could nearly halve profits in 2026.
The International Air Transport Association cut its forecast to $23 billion from $41 billion.
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