US jet fuel consumption, prices rise in December: BTS

US airlines in December consumed the most jet fuel since the global Covid-19 pandemic began to stymie demand early last year, according to the US Bureau of Transportation Statistics (BTS).

Airlines burnt 918.4mn USG in December, up by 8.7pc from November, as the holiday season helped push consumption to the highest levels since reaching a record low of 446.9mn USG in April during the nadir of the pandemic-induced slump, BTS data show. This was still down by 41pc from 1.6bn USG in December 2019, before the pandemic struck.

US airlines consumed 646.7mn USG of jet fuel on domestic flights in December, a nine-month high and up by 8.9pc from November. International jet fuel consumption likewise reached the highest since April, at 271.8mn. USG and rising by 8pc from November.

The increase in demand coincided with an uptick in jet fuel prices. Airlines paid an average of $1.45/USG for jet fuel in December, up by 25¢/USG from November and the highest since April. Prices still lagged year-earlier levels by 55¢/USG.

Domestic jet fuel prices averaged $1.47/USG, up by 26¢/USG from the prior month, while airlines saw a 23¢/USG rise from November on international flights, at $1.40/USG.

By Jared Ainsworth