La Jornada: US airlines’ spending on fuel rose 56% in March

Washington. Fuel spending by United States airlines in March increased 56.4 percent (3.23 billion dollars) compared to the previous month and reached 5.6 billion dollars, as a result of oil shortages linked to the war in the Middle East and the naval blockade of Iranian ports, reported the Department of Transportation’s Bureau of Transportation Statistics.

The average price of a gallon (3,785 liters) of fuel in March reached $3.13, an increase of 74 cents (30.9 percent) compared to February and 72 cents (29.9 percent) more than last year, the statement added.

On Tuesday, media reported that the average price of gasoline in the United States surpassed $4.50, reaching its second highest level ever recorded.

Higher costs were observed in June 2022, during the administration of former President Joe Biden (2021-2025), when the average price per gallon exceeded $5.

Major U.S. airlines have raised airfares and baggage fees, eliminated some routes and implemented other cost cuts. Fuel accounts for up to a quarter of these companies’ operating expenses.

Ultra-low-cost airline Spirit Airlines, which ceased operations on Saturday, said this week that it paid an additional $100 million for fuel in March and April. It cited the fuel rally as the reason why its restructuring plan failed and it was forced to end operations.