U.S. Airlines’ January 2023 Fuel Cost per Gallon Up 4.3% from December 2022; Aviation Fuel Consumption Down 0.7% from Pre-Pandemic January 2019
The Department of Transportation’s Bureau of Transportation Statistics (BTS) today released U.S. airlines’ January 2023 fuel cost and consumption numbers indicating U.S. scheduled service airlines used 1.413 billion gallons of fuel, 4.0% less fuel than in December 2022 (1.471 billion gallons) and 0.7% less than in pre-pandemic January 2019. The cost per gallon of fuel in January 2023 ($3.28) was up 14 cents (4.3%) from December 2022 ($3.14) and up $1.37 (71.7%) from January 2019. Total January 2023 fuel expenditure ($4.63B) was up 0.2% from December 2022 ($4.63B) and up 70.6% from pre-pandemic January 2019.
Year-over-year increases in fuel consumption and cost for January 2023 include 14.5% in domestic fuel consumption, 61.4% in domestic fuel cost, and 40.9% in cost per gallon. Domestic fuel consumption decreased 3.4% from December 2022 to January 2023, while increasing 2.5% from January 2019. Increased fuel consumption reflects an increase in airline passenger travel over the same period.
Fuel consumed by U.S. airlines (total) scheduled service:
January 2019: 1.42 billion gallons
January 2022: 1.21 billion gallons
December 2022: 1.47 billion gallons
January 2023: 1.41 billion gallons
Fuel cost per gallon for U.S. airlines (total) scheduled service:
January 2019: $1.91
January 2022: $2.36
December 2022: $3.14
January 2023: $3.28
Total fuel cost for U.S. airlines (total) scheduled service:
January 2019: $2.72 billion
January 2022: $2.85 billion
December 2022: $4.63 billion
January 2023: $4.63 billion
Airline fuel costs may be affected by hedging, contracts that allow airlines to limit exposure to future price changes.
Individual airline numbers through September 2022 are available on the BTS website.
The information provided within BTS statistical releases may not be based on 100% of reporting carriers. Generally, data are released per schedule if reports have been received from at least 90% of the carriers, along with data from all the major carriers. Regarding this release, the following carriers remain pending: Elite Airways (2HQ), and Caribbean Sun Airlines (WL). Also, within text, percent change results may not be exact due to rounding.