Latest / US News Today | 2 Min News | The Daily News Now!
Airlines Struggle as Fuel Costs Surge | US News
U.S. airlines are reeling from a fuel crisis, spending a record $6.66 billion in May — up 84% from last year — even as they flew less. Jet fuel hit $4.09 per gallon, down slightly from April but up 85% from May 2023. Rising costs are forcing airlines to hike fares and cut flights, with Middle East tensions and shipping disruptions at the root. While prices have dipped from earlier highs thanks to diplomacy, recent attacks on tankers in the Strait of Hormuz and U.S. sanctions on Iranian oil threaten to reverse gains. Delta’s Q2 earnings report this Friday will reveal how airlines are coping —…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.