Source: US DOT
The Department of Transportation’s Bureau of Transportation Statistics (BTS) today released U.S. airlines’ November Fuel Cost and Consumption numbers indicating U.S. scheduled service airlines used 1.25 billion gallons of fuel, 1.7% less fuel than in October and 13.2% less than in pre-pandemic November 2019. At $2.31, the cost per gallon of fuel in November 2021 was up 8 cents (3.6%) from October’s $2.23.
Fuel consumed by U.S. airlines scheduled service:
November 2019: 1.44 billion gallons
November 2020: 845 million gallons
October 2021: 1.28 billion gallons
November 2021: 1.25 billion gallons
Fuel cost per gallon for U.S. airlines scheduled service:
November 2019: $1.99
November 2020: $1.20
October 2021: $2.23
November 2021: $2.31
The November 2021 cost per gallon ($2.31) for aviation fuel was up from both October 2021 ($2.23) and pre-pandemic November 2019 ($1.99). To date, the pandemic low fuel cost per gallon was in May 2020 ($1.03); since then, as the chart below demonstrates, fuel cost per gallon has risen more gradually than it dropped at the beginning of the pandemic.
Total fuel cost for U.S. airlines scheduled service:
November 2019: $2.87 billion
November 2020: $1.01 billion
October 2021: $2.85 billion
November 2021: $2.90 billion
Total November 2021 fuel cost ($2.9B) was up 1.71% from October 2021 ($2.85B) and down 0.87% from pre-pandemic November 2019 ($2.87B).
The Fuel Cost and Consumption page can be found at https://www.transtats.bts.gov/fuel.asp. Summaries by month are also available.
Preliminary fuel cost and consumption numbers are industry summaries only. Airline fuel costs may be affected by hedging, contracts that allow airlines to limit exposure to future price changes. The monthly web update with December data is scheduled for February 2, 2022.
Individual airline numbers through September are available on the BTS website. Individual airline numbers for October and November will be available with the BTS fourth-quarter 2021 financial release on March 7.