Jet fuel prices surpass 100LL for first time in 14+ years
In its nearly 15 years of tracking aviation fuel prices across the United States, GlobalAir.com is seeing the tide turn at FBOs when it comes to some well-established notions.
Not only are jet fuel prices hitting a record-high spike, but April 2022 was the first time ever that Jet A prices surpassed 100LL prices.
“When you have been in the business aviation industry for as long as we have, you see all kinds of things,” said GlobalAir.com President and CEO Jeffrey Carrithers. “However, this is our first time seeing anything like this.”
Also noteworthy in this unprecedented market is the locations seeing the higher prices.
Traditionally jet fuel prices are higher in the Eastern United States, but as of early May, Jet A prices were running 2% higher in the New England Region ($7.96) than in the Northeast Region ($7.81), a historical anomaly. The Western Pacific Region ($7.08) is seeing prices 11% lower than in New England, a wider margin than typical.
Jet fuel prices posted on GlobalAir.com are under the $7 mark elsewhere in the continental United States, averaging $6.82 in the Northwest Mountain Region, $6.72 in the Southwest Region, $6.31 in the Great Lakes Region, and $6.10 in the Central Region. The national average as of this publication was $6.90.
Since the average retail price of Jet A price hit a three year low of $4.49 in May of 2020, compounded by surplus supply and pandemic-driven airline shutdowns, it has risen 47.2% in the past two years, based on national averages tracked and compiled by GlobalAir.com.
“Just as we have seen demand for aircraft unlike anything in recent decades, and how that has impacted private jet prices, we are now seeing that in the aviation fuel market,” Carrithers said.
GlobalAir.com collects aviation fuel prices from FBOs throughout the United States, with around 3,250 at any given time reporting prices posted within the past 30 days, ensuring that pilots and aviation companies can rely on the most current information as possible when planning flights. The GlobalAir.com Airport Resource Center provides aircraft fuel prices, fuel mapping applications to compare FBO fuel prices, aviation weather and FAA airport information for thousands of airports throughout the United States.
BlueSky Business Aviation News | 12th May 2022 | Issue #653