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U.S. Airlines Set To Pocket $40 Billion As Jet Fuel Prices Crash

U.S. airlines are projected to save over $40 billion annually on jet fuel costs following a US-Iran peace deal that drove oil prices lower. Brent crude fell to $79.22/bbl and jet fuel spot prices dropped to $2.85/gallon from $4.88, providing significant relief to carriers facing elevated operational costs.

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U.S. airlines stand to save billions in dollars on jet fuel costs after the US-Iran peace deal sent oil prices sharply lower. Brent crude was trading at $79.22 per barrel at 6.05 am ET on Monday, nearly $20/bbl lower after Washington and Tehran agreed to a ceasefire and committed to 60 days of negotiations, while jet fuel spot prices fell to $2.85 a gallon, down sharply from $4.88.  The dip in fuel costs could slash the U.S. airline industry’s annual fuel bill by more than $40 billion, easing the pressure on carriers who were facing…

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https://oilprice.com/Latest-Energy-News/World-News/US-Airlines-Set-To-Pocket-40-Billion-As-Jet-Fuel-Prices-Crash.html

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