What You Need to Know About Aviation Fuel Prices

Several factors, from war to inflation, are making filling your aircraft more expensive.

Jonathan Welsh

Wednesday, May 04, 2022 at 08:37 AM ET

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A tanker truck carrying aircraft fuel. [File Photo: Adobe Stock]

Key Takeaways:

Aviation fuel prices have surged dramatically, with global jet fuel up 149% in a year and U.S. FBO averages for jet-A reaching $6.35 per gallon.
This increase is attributed to tightened global crude oil supply, largely due to sanctions against Russia, combined with rising demand from a recovering airline industry and booming freight markets.
High fuel costs are significantly impacting general aviation pilots, who are reducing flights and seeking cheaper fuel, and causing airlines to raise ticket prices and cut flights.
While elevated prices are expected to continue through the current summer, a decrease is forecast for 2023, subject to geopolitical events like the war in Ukraine, inflation, and broader economic trends.

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Just about any pilot topping off the tanks of a turboprop or light jet at the FBO lately has experienced sticker shock or at least a degree of buyer’s remorse. Of course, prices for nearly any fuel—and many other products—are way up these days. But it seems like aviation fuel prices have surged at a higher rate than most.

Here are the answers to a few of the questions pilots have been asking about surging fuel prices.