As of June 2026, jet fuel costs have risen globally, driven by a combination of refinery maintenance schedules and ongoing geopolitical tensions affecting crude oil supply. According to the International Air Transport Association (IATA), jet fuel prices averaged $120 per barrel in May 2026, up from $105 in January 2026.
Major airlines, including Delta Air Lines and Lufthansa, have reported increased fuel expenses in their quarterly earnings, with fuel now representing approximately 30% of operating costs. Analysts at S&P Global Platts note that reduced refinery output in Europe and Asia has tightened supply.
The rise in jet fuel costs has led to higher airfares for consumers, with average ticket prices increasing by 8% year-over-year as of May 2026, according to data from the Airlines Reporting Corporation. However, airlines are also investing in fuel-efficient aircraft to mitigate long-term expenses.
Industry experts expect prices to stabilize in the second half of 2026 as new refinery capacity comes online in the Middle East and North America. The International Energy Agency (IEA) projects a 2% increase in global jet fuel demand for 2026, driven by post-pandemic travel recovery.
