Jet fuel price forecast 2023 europe. Note: Prices adjusted for inflation. The aviation fuel market in the U. 7% of 2019 2022: 68. Aug 11, 2023 · Demand Recovery The first half of 2023 has been promising for the aviation sector. Mar 24, 2025 · U. May 3, 2023 · Jet fuel prices have steadily declined over the first quarter, after a strong start to 2023, according to the IATA Jet fuel price index. A sub-mandate for synth Feb 1, 2023 · Rising Costs: Inflation continues to drive costs up across the travel industry and will likely result in elevated prices for airfare and hotels well into 2023. Jet fuel consumption, thousand barrels per day, 2022: The average for 2022 based on 27 countries was 32. ~47 Mt base case) ‒ Meeting 2030 targets under IATA forecast requires an additional 1. These factors led to procurement inefficiencies and moderate pricing volatility throughout the quarter. The forecast for rising gasoline consumption is driven by an upward revision to the number of people of working age compared with our previous forecasts, and lower gasoline prices compared with our forecasts Mandated blend volumes and voluntary targets across the globe are aiming to tackle the challenge of decarbonizing aviation. The market is further expected to grow at a CAGR of 7. Diesel prices in Europe. Both of these trends have been apparent in recent outcomes (see chart below). As of 2020, the European Union's supply of SAF was less than 0. 20/gallon in June 2023. Apr 13, 2018 · Provides historical data on U. 9% over the previous month and -24. 35% during the forecast period. Aug 29, 2023 · “Our price forecasts call for global jet fuel prices to trend lower over the coming 18 months as strong margins continue to retreat and appreciable gains in Brent prices fail to The Jet Fuel Price Monitor is a joint S&P Global Commodity Insights - IATA initiative. Dec 10, 2024 · Fuel: Jet fuel prices fell to $70/barrel in September 2024 for the first time since the start of the Russia-Ukraine War. 94 Million Tons of jet fuel by 2034. Measure: thousand Jan 23, 2025 · Fuel prices The jet fuel price averaged $2. EIA expects jet fuel consumption to increase at a faster rate than any other liquid transportation fuel through 2050. Introduction Kerosene-type jet fuel is a refined petroleum product used in most commercial and military aircraft engines. Jan 12, 2025 · Understand current Jet A1 fuel prices and market trends. View the daily report by OPIS that monitors jet fuel prices, estimates future costs, aids in route selection and tracks trends and news in global markets. Oct 3, 2024 · Global air cargo yield maintains a moderate upward trend amid record capacity and falling fuel prices In August, the global jet fuel price fell by 7. Jet was by far the fastest growing product in 2023, accounting for almost half of the 2. This effect has now stabilised, and prices have returned to pre-invasion levels. 98 thousand barrels per day and the lowest value was in Slovenia: 0. So far, global jet demand in 2024 remains around 95% of 2019 due to efficiency gains, larger planes and The jet fuel crack spread—the difference between jet fuel and crude oil prices—has recently narrowed to below USD 20 per barrel. However, there was a very wide variation between States, with South-Eastern Europe growing the fastest. Kerosene Price Trend for the Second Half of 2024 Asia In Asia, kerosene prices showed significant volatility during the second half of 2024. European aviation kerosene demand in 2019, before the Covid-19 pandemic. The European aviation industry’s recent Destination 2050 roadmap estimates SAF deployment of 3 Mt in 2030, rising to 32 Mt – equal to 83% of total jet kerosene consumption – in 2050 if given strong political support. 45 thousand barrels per day. Nov 2, 2023 · The group has hedged 70% of its jet fuel consumption for the fourth quarter of 2023 and 64% for the first quarter of 2024, for $129. US West Coast’s growing reliance on imports and the strong demand recovery from 2022 to 2024 led to unprecedented price volatility during that period, — significantly more volatility compared to before the This report presents trends in airfares, jet fuel prices, and consumer prices from January 2015 to August 2024. Jun 9, 2025 · Jet Fuel : Supply Dem analysis Competitive Global Jet Fuel market was valued at USD 580. U. Globally, 18 kb/d of SAF was used in 2023, accounting for just 0. This equals a demand of close to 1 Mt SAF (0. The market exhibited low demand and inadequate supply, resulting in a downward price trend during the first quarter of 2023. 45% in 2023. 1. 3 Bgal), which is double the global market in 2023. We now In 2023 the European Union adopted ReFuelEU Aviation, which mandates minimum sustainable aviation fuel (SAF) blend-in shares through 2050, with sub-targets for synthetic fuels. The Brent crude oil price in our forecast declines significantly in the coming months, falling from $71 per barrel (b) in July to $58/b on average in the fourth quarter of 2025 (4Q25) and around $50/b in early 2026. Gulf Coast Kerosene-Type Jet Fuel Spot Price FOB and U. 90 per gallon. Demand plateaus at close to 105. Biofuels remain the dominant pathway for avoiding oil demand in the diesel and jet fuel segments. 55 million by 2032, at a CAGR of 6. The price assessment is published daily as an outright value and as a premium to the benchmark CIF Northwest European jet fuel price assessment. Jet fuel prices have steadily declined over the first quarter, after a strong start to 2023, according to the IATA Jet fuel price index. 5% CAGR over 10-years. liquid fuels consumption. 80 and $1. Sep 1, 2025 · The global aviation fuel market size was valued at USD 391. It quickly accelerates and contributes the highest growth across all products over the forecast period, increasing by a substantial 2 mb/d. jet fuel consumption exceeds 2019’s pre-pandemic level in 2025. Track real-time jet fuel price index, historical price chart and forecast. gasoline consumption. Mar 16, 2021 · Current volumes of SAF are below 0. The Jet Fuel Price Index and price data show the average prices paid at the refinery for aviation jet fuel for the reported week. The indicator is available from 1980 to 2023. 20% during the forecast period of 2025-2034 to attain 461. The crack spread is likely to narrow from 35% to around 23%, still a little above the long-run average. S. The price of jet fuel rose further still, exceeding USD 175 per barrel in the summer of 2022, causing the spread between jet fuel and crude oil prices (jet crack spread) to climb above USD 60 per barrel. Commentary Jet fuel scenario has major impact on SAF demand, especially towards 2050 ‒ IATA forecasts >75 Mt jet fuel demand by ’30 and >100 Mt by ’50 (vs. 23 billion in 2023 and is projected to grow from USD 431. Global oil prices. Feb 27, 2023 According to our estimates, the aviation industry will consume between 450k and 500k tonnes of sustainable aviation fuel (SAF) at USD 2500 per tonne (or 2. 06 thousand barrels per day. Learn more the Europe Jet, Diesel, and Gasoil Report. The highest value was in Germany: 195. CPI-adjusted in latest month’s price 10% 12% Dot-com bust Global Financial Crisis Feb 21, 2025 · The cost of jet fuel is a crucial economic factor underpinning the global aviation industry. We regularly publish reports, plans and forecasts highlighting air transport statistics and trends. 120 month history. The global aviation fuel market attained 230. 07B by 2029, growing at a 5% CAGR. The crack spread is influenced by diesel demand and elevated global natural gas prices, both of which may keep it above the long-term average. 05% of the total jet fuel demand, indicating a nascent industry with immense growth potential. 8x jet fuel), which will add USD 756 million to the industry fuel bill in 2023. If jet fuel demand increases more in line with IATA forecasts, pressure on feedstock is likely to increase which could drive up SAF prices. 5% over 2024 and 2025. Jet fuel consumption. Jan 18, 2024 · Based on a moving average trend, 2023 fuel prices in Europe started 2023 at around $3/gallon and declined during the first part of the year, down to $2. Increases for minimum ticket prices? Mar 17, 2025 · Asia's ability to supply sustainable aviation fuel will outpace regional demand this year and next as more production comes online, increasing exports and potentially lowering prices for the fuel Keep up to date with the latest SAF prices, insights, forecasting and analyses, data charts, market news and events. 1% from 2024 to 2029. Refinery capacity also remains limited, which will likely maintain the historically large jet crack spread between crude oil and jet fuel prices in 2023. Jun 30, 2025 · Europe Aviation Fuel Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030) The Report Covers Europe Aviation Fuel Market and It is Segmented by Fuel Type (Air Turbine Fuel (ATF), Aviation Biofuel, and Avgas), Application (Commercial, Defense, and General Aviation), and Geography (United Kingdom, Germany, Italy, France, Spain, Nordic, Turkey, Russia, and the Rest of Europe Iceland, despite its relatively small market size, stands out as one of the few countries where airfares rose above jet fuel prices for an extended period between 2020 and 2023 versus 2019. CPI data. 5 days ago · This report presents trends in airfares, jet fuel prices, and consumer prices from January 2015 to August 2024. We would like to show you a description here but the site won’t allow us. Why does the price of Jet Kerosene change in July 2025 in Europe? • Jet fuel spot prices in Northwest Europe and the Mediterranean surged in July 2025, reversing previous trends of price stability. The price of Brent crude oil is forecast to ease from just over USD 100/bbl in 2022, to around USD 80/bbl this year. Oct 6, 2023 · The jet fuel price in late June 2023 was around $2. jet fuel consumption on average in 2022 Globally, biofuels and renewable electricity used in EVs are forecast to offset 4 million barrels of oil equivalent per day by 2028, which is more than 7% of forecast oil demand for transport. Our chart based on EIA data shows that the fuel price remained steady in 2019 between $1. The jet fuel price is expected to average around USD 98 over the course of 2023. 48 Million Tons of jet fuel in 2024. Feb 27, 2023 · Global jet fuel demand continues its post-pandemic recovery, but predictably, the regions that began to open up first have seen the most robust improvements. Rising Prices $3. The US and Europe will drive the net balance into deficit in the second half of the year, while Asia lags behind. Kerosene Regional Price Overview Get the latest insights on price movement and trend analysis of Kerosene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa). It reached another peak of $131 per barrel in September 2023. 1% of EU annual jet fuel consumption. Gulf Coast kerosene-type jet fuel spot prices in dollars per gallon. Discover influencing factors and future forecasts impacting aviation costs. 1 mb/d in 2023 to less than 1 mb/d in 2024, with a small contraction by 2030. In Q2 2025, the jet fuel prices in the USA reached 2. Europe's price for the fuel has climbed to Sep 7, 2025 · EUROCONTROL's European Aviation Overview provides a detailed snapshot of the latest Network trends. This report contains market size and forecasts of Jet Fuel in global, including the following market information: Global Jet Fuel Market Revenue, 2018-2023, 2024-2029, $ millions Global Jet Fuel Market Sales, 2018-2023, 2024-2029, K MT Global top five Jet Fuel companies in 2022 %. We now forecast a slight increase in U. European jet fuel prices weakened over the course of 2024, and support is difficult to see in the coming year. 7%, both YoY and MoM. According to IATA’s mid-2025 outlook, the industry is caught in a fuel price paradox—jet fuel costs have dropped by 13%, easing financial pressure, while Current Landscape and Future of the SAF Industry The Sustainable Aviation Fuels (SAF) industry in Europe is currently at a developmental crossroads. This corresponds to 101% of pre-pandemic (2019) levels. 5 €/l to less than 0. 35 million b/d in 2024 after surging 1. Much of this surge was fueled by the reopening of global travel channels and China's economic recovery. 64 billion in 2024 and is projected to reach USD 363. Understanding the complex market forces and pricing mechanisms that determine how much airlines pay to refuel aircraft is essential Jan 19, 2024 · Global jet buying will edge only 150,000 barrels per day higher to 7. In the Announced Pledges Scenario (APS), stronger policy action brings forward the peak in oil demand to the mid-2020s. Price in Euro per Gallon. The ReFuelEU Aviation Regulation has set a minimum supply mandate for Sustainable Aviation Fuels (SAF) in Europe, starting with 2% in 2025 and increasing to 70% in 2050. Chart 2: Brent and WTI futures prices, USD per barrel A particular challenge for the airline industry in this context is the high and persistent spread between the price of jet fuel and Brent (Chart 3). 70 billion in 2024 to USD 819. Jet fuel consumption is rising based on increased air travel. Dec 19, 2024 · The most expensive production cost estimated was for fuel produced with CO2 captured from the atmosphere, averaging €8,225 per tonne – more than 10 times the 2023 average market price of conventional jet fuel. In 2025, jet fuel is expected to average $87/barrel (down from $99/barrel in 2024), based on a jet fuel crack spread of $12 per barrel and a crude oil price of $75/barrel (Brent). Sep 1, 2025 · The global jet fuel market is projected to grow at a CAGR of 9. Europe's Lifeblood Jet Imports Face Fresh Turmoil Houthi strikes in the Red Sea and new Western sanctions on countries trading with Russia could disrupt Europe's critical jet fuel supply lines. Aviation fuel, particularly jet fuel (Jet A, Jet A-1), remains a critical component in the operational efficiency of airlines. 2% YoY, the seventh consecutive fall. Jan 16, 2024 · Learn about sustainable aviation fuel price forecasts for 2024 and stay informed with OPIS's reliable data and analysis. is projected to grow significantly, reaching an estimated value On the 9th of October 2023, ReFuelEU was formally adopted, marking an important step towards completing the ‘Fit for 55’ package. The war in Ukraine sent prices rising sharply at this time. 30 per barrel, up 14% in the last two weeks. Forecast upgrades reflecting recent developments North America and Latin America to recover in 2023, ASPAC in 2024 Source: Tourism Economics/IATA Sustainability and Economics Air Passenger Forecasts as of March 2023 Shares of China’s aviation market in global and Asia China’s domestic and international monthly flights According to our estimates, the airline industry consumed between 450,000 and 500,000 tons of sustainable aviation fuel (SAF) at USD 2,500 per ton (or 2. Check out our latest report with actionable insights. The jet fuel crack spread dropped to 13 USD, the lowest value since early 2022. 20 billion by 2032, at a CAGR of 4. 6 mb/d by the end of the forecast period. Asia Pacific dominated the global market with a share of 37. 87 and $123. Jun 3, 2025 · As airlines breathe a sigh of relief from falling jet fuel prices, a new and pressing concern is gaining altitude: the soaring cost of SAF. 28,29Considering the estimated jet fuel price drop of 15% to 25% from 2023 to 2025 and the delayed impact because of hedging, this could cause yields to decline by 7. In our forecast, U. 5% to 12. Bureau of Labor Statistics CPI Index. 0% during the forecast period. Jet fuel consumption soared to an average of 5. We expect that relatively strong jet fuel consumption will cause jet fuel prices to rise by more 2 days ago · Today: 22 September 2025 JET A1 Price in United Kingdom JET-A1-FUEL. 70% during the forecast period. May 29, 2025 · Chart 6: Jet fuel price and air cargo yield (with surcharges), global index, Jan 2019 = 100 Source: IATA Sustainability and Economics, IATA Jet fuel price monitor, CargoIS Strong demand related to front-loading during a low season and relatively low base of last year lifted air cargo yields by 1. It uses the latest traffic data to show how States, airports and airlines are performing, with further analysis of market segments, fuel prices Growth decelerates from 2. Jul 4, 2025 · Jet Fuel Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030) The Jet Fuel Market Report is Segmented Into Fuel Type (Jet A, Jet A-1, Jet B, and Others), Application (Commercial Aviation, Defense Aviation, and General Aviation), Distribution Channel (Into-Plane and Bulk Supply To Fixed-Base Operators), and Geography (North America, Asia-Pacific, Europe, South America, and Access daily insights into jet fuel prices and trends with OPIS Worldwide Jet Fuel Report. jet fuel consumption in 2023 remained below the pre-pandemic high September 14, 2023 Energy use for transportation increased from pre-pandemic levels in 2021 in only 12 states December 14, 2022 Tanker rates for refined petroleum products reach multiyear highs during 2022 December 5, 2022 Less U. Diesel prices by country using official data sources. Further oil price volatility is to be expected in 2023 as a result of the ban of EU vessels from transporting Russian crude oil and petroleum products to third countries. Meanwhile, European Union ReFuelEU Aviation legislation, which sets blending obligations of 2% for 2025 and 6% for 2030, is forecast to increase the biojet fuel share to 4% of Europe’s jet fuel demand by 2028. Jet Fuel Price and Inflation Adjusted U. One of the major factors affecting the market unpredictable crude oil prices which substantially affected the production costs for jet kerosene. In 2023, jet fuel accounted for 10% of total U. Aug 14, 2024 · Global jet fuel demand is poised to soften as a slowdown in consumer spending hits travel budgets, a shift that could weigh on oil prices in the months ahead. Amidst weakening prices, G7 countries have renewed their calls for more aggressive decarbonisation of the international aviation sector, while suggesting a switch to sustainable fuels would be key to success. This is down significantly from the highs of over $4 per gallon seen in early 2022. The region experienced frequent Monthly price chart and freely downloadable data for Jet Fuel. On the other hand, In the first three months of 2023, Jet Kerosene prices in Europe remained hazy. com provides jet price per Barrel, per metric ton per gallon, per liter today in United Kingdom. Sep 4, 2025 · U. Released March 16, 2023 | tags: AEO NEMS all fuel sources alternative fuels annual buildings + coal commercial consumption/demand electric generation environment exports/imports forecasts/projections most popular natural gas nuclear oil/petroleum policy prices production/supply renewables residential resources total energy transportation Oct 22, 2024 · Aviation Fuel Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030) The Report Covers Aviation Fuel Market Size & Share and It is Segmented by Fuel Type (Aviation Turbine Fuel (JetA, JetA-1, and JetB), Aviation Biofuel, and AVGAS), End-User (Commercial, Defense, and General Aviation), Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa Dec 16, 2024 · Fuel: Jet fuel prices fell to $70/barrel in September 2024 for the first time since the start of the Russia-Ukraine War. It serves as a practical reference for airlines, regulatory authorities, and other industry professionals by offering a clear view of historical price changes. Jun 5, 2023 · Nonetheless we expect the jet fuel price in 2023 to remain relatively high, averaging around USD 98 per barrel, ensuring that fuel retains its large share of airline costs, nearly matched by labor costs, and the two making up around 50% of total costs. Argus SAF (sustainable aviation fuel) assessments provide visibility into the true value of the fuel, with fair and reflective daily prices for this growing and increasingly important renewable fuel market. gasoline consumption next year, the first Short-Term Energy Outlook in which we have forecast an increase for 2026. 1 Mt SAF ‒ In 2050, this increases to + 30Mt SAF Biofuels to provide majority of SAF in 2040s ‒ Recycled carbon fuels may push out some Monitor Northwest Europe and Mediterranean jet fuel, diesel, and gasoil spot pricing and market news. We project the global aviation sector’s combined planned use of SAF will increase to over 700 kb/d by 2035, 8% of the total jet fuel pool by then. Feb 27, 2025 · Fuel Costs Drop, Yields Rise Year-on-Year Chart 6 – Jet fuel price and air cargo yield (with surcharges), global index, Jan 2019 = 100 Source: IATA Sustainability and Economics using data from IATA Jet fuel price monitor, CargoIS In January, average monthly global jet fuel prices fell by 11. Today's dollar value – all monthly prices are monthly averages adjusted for inflation using U. For airlines, fuel often represents 20-30% of total operating expenses. 8x jet fuel) in 2023, adding USD 756 million to the industry fuel bill. Find worldwide aviation fuel prices at your destination airport or along your route of flight. Our European Aviation Overview, previously known as the Comprehensive Aviation Assessment, provides a detailed snapshot of the latest Network trends. Starting in 2025, EU jet fuel suppliers will have to supply a 2% SAF blend, initially averaged over the eligible EU airports they supply. 2021: 41. May 12, 2023 · Jet fuel prices plunged at the beginning of the COVID-19 outbreak from ~0. Jet fuel demand ran at 8Mbpd in 2019, the last year before COVID, and could rise to 18Mbpd by 2050, as global population rises 25%, jet fuel use per capita doubles and fuel economy per aviation mile rises by 20%. 39/gallon, -10% vs 2023. Over that period, we estimate that each 10% decline in the jet fuel price translated into a 4-5% decline in passenger yields (Chart 6). 78B in 2025, is projected to reach USD 259. This phenomenon is related to a lack of refining capacity which creates a scarcity of jet fuel, leading to a higher price of the latter. In 2023, global air travel experienced a robust rebound, surpassing earlier projections. Meanwhile, the UK has The European Union Authority for aviation safety1 …and except for those produced from food and feed crops, intermediate crops, palm fatty acid distillate and palm and soyderived materials, and soap stock and its derivatives. Jan 7, 2025 · The U. 80 per barrel, respectively. Argus publishes a range of SAF prices for Europe: SAF fob ARA range SAF fob ARA less HBE-IXBs SAF cif NWE The average jet fuel price was at 2. The S&P Global SAF-Jet fuel blend slider uses the month average Platts CIF Northwest Europe Jet cargo price benchmark and the CIF ARA SAF price assessment to show a representation of the blended price of aviation fuel. Jul 7, 2025 · Average refinery output by product type in OECD Europe in 2023 and 2024 07/07/2025 Download document Argus helps the jet fuel market participants to make informed decisions and optimize their strategies with price assessments and information on deals done for conventional jet fuel and SAF, as well as the latest market-moving news, in-depth analysis, supply and demand dynamics, and price forecasts. Ukraine War Feb 25, 2025 · The European Union Aviation Safety Agency (EASA) has published the “2024 Aviation Fuels Reference Prices for ReFuelEU Aviation” briefing note, which provides key reference prices for SAF and other relevant aviation fuels for the European Union (EU). 25 per gallon. Jan 18, 2023 · The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. It uses the latest traffic data to show how States, airports and airlines are performing, with further analysis of market segments, fuel prices, and delays. In our August STEO, we forecast 3% more U. Feb 10, 2023 · While in Europe prices are forecast to rise in the short-term on the fuel import ban from Russia which will come into effect in February 2023,” the report added. US Gulf Coast jet fuel price fell from an average of $149 per barrel in January 2023 to $91 per barrel in May 2023, but bounced back to $126 per barrel in August 2023. 5% of 2019 1H 2023 ASKs: 33% higher Airlines facing increasing cost pressures from labor to fuel to maintenance. Annual fuel consumption and CO2 grows 4. If the momentum persists, jet fuel consumption could hit a record-high 6. Nov 6, 2019 · EIA expects jet fuel consumption to increase the most in China and other Asian non-OECD countries, driven by greater demand for freight air transport and passenger air travel. The price forecast is driven largely by more oil inventory builds following OPEC+ members’ decision to accelerate the pace of production increases. However, as usual throughout the past decades, the industry cannot rely on prices continuing to drop. Europe Jet Kerosene Price The European jet kerosene market in the fourth quarter of 2023 reflected a negative trend due to numerous factors. Explore S&P Global Commodity Insights essential analysis on oil, energy & metals market trends, plus Platts benchmark prices to inform your strategic decisions. Jet lift While traditional road fuel demand heads into decline, global jet demand is still growing after passenger numbers returned to pre-pandemic levels for the first time in mid-2023. The European Commission's impact assessment for the RefuelEU regulation shows jet fuel demand for the EU-27 growing from 38 million tonnes (Mt) in 2010 (EU-27) to 50 Mt by 2050 in the base case scenarios (European Commission, 2021). 15 €/l in April 2020. In the absence of daily SAF price indication Platts may look at other relevant markets such as used cooking oil feedstock prices. This data file breaks down jet fuel demand by region, including our forecasts through 2050, which can be stress-tested, and feed into our global oil demand models. Take your free trial today. Global jet demand is soaring as more passengers return to the skies and summer air travel pushes aviation fuel ever closer to pre-pandemic levels. Although global air travel measured by flights returned to pre-pandemic levels for the first time in mid-2023, jet fuel demand has not kept pace. 1 day ago · Aviation Fuel Global Aviation Fuel market was valued at USD 275. In 2023, the price of conventional jet fuel averaged around €816 per tonne and is a figure that is readily available from Price Reporting Agencies (PRA) indexes. By 2050, world SAF use will reach nearly 2 mmb/d, accounting for 19% of the global jet fuel pool. At the start of 2023, jet fuel demand was still lagging 2019 levels by more than 1 mb/d, or 13%. 6 MMBbl/d in the second half of Find data from forecast models on crude oil and petroleum liquids, gasoline, diesel, natural gas, electricity, coal prices, supply, and demand projections and more. 73 billion by 2032, exhibiting a CAGR of 8. jet fuel market in 2025 is expected to continue the pattern set at the end of 2024—slightly lower prices even as demand increases. 5,488 daily flights in the UK (+4% vs 2023) 4,984 daily flights in Spain (+8%) Jan 27, 2023 · Prices are climbing in Asia, Europe and the United States. In Singapore, jet fuel is trading around $122. 34 per gallon average Russia/ Source: US EIA, U. Jul 25, 2024 · However, jet fuel still has a significantly higher price tag than before the pandemic. 4% YoY, closing at USD 94 per barrel (Chart 6). 3% of global jet fuel consumption. 1 million b/d last year to drive half the increase in global oil demand. The index and price data shows the global average price paid at the refinery for aviation jet fuel at the reported date. 74 million barrels per day (b/d). The Jet Fuel Market, valued at USD 212. Jet fuel prices are at the highest levels seen since 2008, meaning airlines will be pressured to maintain higher airfares to compensate for the higher operational costs. Passenger numbers at the top 40 airports over the June-to-August 2024 period reached 409 million, a +6% increase on same period in 2023. 102 USD per Gallon in June. 9 MMBbl/d from January to June, a 30% increase from 2022. jet fuel consumption in 2024 compared with 2023 and growth of another 3% in 2025. Jet fuel prices continue to fluctuate significantly largely due to the Russia-Ukraine crisis. Below is a chart for all countries where data are available. 25 million b/d increase in overall oil demand. Almost all States were up compared to 2023. 16 USD/gallon on 25 October 2024, a 4% decrease over two weeks. Singapore jet fuel prices are representative of trades in East Asia, where most jet fuel imports into the US West Coast come from. This Jet Fuel Price Monitor provides the latest price data from the leading energy information provider Platts. 12 million in 2024 and is projected to reach USD 973. jet fuel consumption peaked in 2019 at 1. Jun 2, 2025 · SAF production to double in 2025 – but ‘policy shortcomings’ are hiking up prices IATA estimates that Europe’s SAF mandates have made SAF five times more costly than conventional jet fuel. Fact Sheet The outbreak of war in Europe in February 2022 caused a sharp increase in global oil prices. In the Stated Policies Scenario (STEPS), global oil demand rebounds and surpasses 2019 levels by 2023, despite high prices; demand peaks in the mid-2030s at 103 million barrels per day (mb/d). ayqfzb cqd xpdm ghfu mmohpde jsr lqrie zmaw frcri kunxodxg