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What You Need to Know About Aviation Fuel Prices

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

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

  • Aviation fuel prices are experiencing a significant surge due to a tightened global crude oil supply stemming from Russian sanctions and a simultaneous increase in demand from post-pandemic air travel and freight.
  • This surge has led to dramatic price increases, with worldwide jet fuel averaging about 149 percent higher than a year ago, causing general aviation pilots to cut back on flying and airlines to raise ticket prices or reduce flights.
  • High fuel costs are anticipated to continue through the summer, with a forecast for potential decrease in 2023, though this outlook remains dependent on the ongoing Ukraine war, 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.

Jonathan Welsh

Jonathan Welsh is Lead Editor of Aviation Consumer and a private pilot who worked as a reporter, editor and columnist with the Wall Street Journal for 21 years, mostly covering the auto industry. His passion for aviation began in childhood with balsa-wood gliders his aunt would buy for him at the corner store. Follow Jonathan on Twitter @JonathanWelsh4

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