Integrity Financial

U.S. airlines spent more than $6 billion on jet fuel in May for the second month in a row.

According to government data, airlines spent $6.66 billion on fuel in May, up 84% from a year earlier.

The increase was driven mostly by higher fuel prices, not higher fuel use. U.S. carriers used slightly less fuel than they did a year ago, while the average price paid rose to $4.09 per gallon.

Fuel is typically one of the airline industry’s highest operating costs, which can make carriers especially sensitive to swings in energy prices.

In response to higher fuel costs, airlines have raised fares and fees in some cases and adjusted flight schedules.

For travelers and businesses, the broader takeaway is that energy prices can affect more than the cost of filling up a car. They can also influence airfare, travel budgets, company expenses, and inflation pressures.


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US airlines’ monthly fuel spend topped $6 billion again in May, up 84% from year ago Government data released Tuesday shows that U.S. airlines spent $6.66 billion on jet fuel in May

Heat waves can affect more than daily comfort and public health. They can also create real economic costs.

Extreme heat can reduce productivity among outdoor workers, increase utility bills, strain power grids, reduce crop yields, and keep some consumers closer to home.

One federal climate assessment found that the average number of heat waves in major U.S. cities each year has doubled since the 1980s.

Researchers have also found that more frequent extreme heat and severe droughts can weigh on gross domestic product, while heat-related economic losses have reached trillions of dollars globally in recent decades.

The impact can be especially significant for heat-exposed industries such as agriculture, construction, manufacturing, transportation, and mining.

For households and businesses, extreme heat is a reminder that weather risk can affect budgets, supply chains, labor productivity, food prices, and energy costs.


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Do heat waves damage the economy? Experts explain Heat waves threaten costs for the economy, sapping workers' productivity, shutting shoppers inside their homes and driving up utility costs, analysts told ABC News.

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