January US jet fuel spot prices down 9% YoY

January jet fuel spot prices in the United States rose 25 cents from December 2024 but remain lower year over year. The monthly average spot price for U.S. Gulf Coast jet fuel in January was $2.35 per gallon , a 9.2% YoY decrease, according to the Energy Information Administration (EIA). January’s monthly average was 25 cents higher than December’s monthly average of $2.10 per gallon. January's highest rate per day was Jan. 15 at $2.46 per gallon, according to the EIA. On Jan. 2, spot prices fell to $2.27, the lowest of the month. The fall in jet fuel prices has outpaced the decline in crude oil prices, according to IATA, and is largely attributed to falling demand for diesel. As jet fuel and diesel are both produced in refineries, the drop in demand for one benefits the other. The past few years have seen valleys and peaks in jet fuel spot prices, but they appear to be normalizing. The average spot price of U.S. Gulf Coast jet fuel in 2024 was $2.34, down 13.4% compared with 2023. April 2020 saw the lowest monthly average since 1990 at 61 cents per gallon and June 2022 saw the highest at $4.12 per gallon. Register now for Cargo Facts' essential regional events for industry stakeholders: Cargo Facts LATAM 2025 on Feb. 10-11 at the Pullman Sao Paulo Guarulhos Airport in Brazil; Cargo Facts Asia 2025 on March 24-26 at the W Shanghai in China; and Cargo Facts EMEA 2025 on May 6-8 at the Shangri-La Bosphorus in Turkey.

January US jet fuel spot prices down 9% YoY

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