By Karl Sinclair • Contributing Writer
September 28, 2026
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Buckle up, folks. It’s going to be a bumpy ride.
Soaring fuel costs are squeezing already-thin airline margins, and the final quarter of 2026 projects to be a difficult period for U.S. carriers.
Presently, the average price of diesel fuel in the U.S. is $6.53 a gallon. This ranges from a low of $6.18 on the Gulf Coast and a high of $7.46 on the West Coast, and $8.25 in California.
United Airlines is among major U.S. carriers feeling increasing pressure from rising jet fuel prices. Photo credit: Los Angeles International Airport
According to the IATA Jet Fuel Price Monitor, the global average for jet fuel is $194.65 per barrel, with U.S. operators paying $193.65 and Europe paying $207.56 for the week ending September 18.
At the end of 2024, diesel was around $3.50 a gallon and jet fuel prices were in the $100 per barrel range.
The current average fuel price includes a crack spread of $67.14, which is the surcharge added at the refining level to “crack” the hydrocarbons into their useful components—gasoline, diesel, natural gas and mazut. In other words, these are refining costs.
Fuel is often an airline’s most-expensive line item, even in lower fuel cost environments, and it will surely be a top-of-mind discussion item when Delta Air Lines kicks off earnings season on October 9.
