US airlines' fuel cost per gallon was $2.47 in August 2024, down 11 cents from July 2024, marking a 4.3% drop. It also marks a 52 cent increase over August 2019, or a 26.9% increase.
The report from the Department of Transportation's Bureau of Transportation Statistics (BTS) added that total fuel expenditure in the month was down 7.1% from July, totalling $4.16bn. It was up 29.3% from August 2019.
Furthermore, US scheduled service airlines used approximately 1.7bn gallons of fuel, 2.9% less when compared to July. In addition, US airlines used approximately 1.67bn gallons of fuel in August 2023.
The fuel cost per gallon was $2.82 in August 2023, with total fuel costs last year amounting to $4.73bn for US airlines.