Jet fuel is one of an airline's biggest expenditures, typically accounting for around 30% of all costs, totaling billions of dollars per year. Its price can therefore significantly influence each carrier's financial success, or otherwise, and airlines will often invest heavily in monitoring markets worldwide and hedging in order to maximize profits. With fuel prices always in the spotlight for airlines, we take a look at how much it takes to fill up the tank of an aircraft.
Regional variations in fuel price The price of a barrel of crude oil can vary greatly by region, and is often affected by political and natural events around the world. The latest data on jet fuel prices from the International Air Transport Association (IATA), broken down by region and the corresponding market share, is outlined in the table below: Region Market share Cents per gallon Dollars per barrel Dollars per metric ton Latin America 4% 250.74 105.
31 831.97 North America 39% 244.20 102.
57 810.27 Europe 28% 236.06 99.
14 782.25 Africa 2% 235.17 98.
77 779.66 Asia & Oceania 22% 230.90 96.
98 766.12 Middle East 5% 221.26 92.
93 734.12 *Data from January 2025 Such regional variations in fuel prices are also affected by additional costs, such as transport, storage, and the cost of putting the fuel into the aircraft itself (often referred to as 'into-wing costs'). These costs can vary significantly depending on competition in the market (or a lack thereof) and complexities in regional logistics.
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