The cost of fuel

Fall 2008 CSANews Issue 68  |  Posted date : Sep 19, 2008.Back to list

U.S. Regular Conventional Retail Gasoline Prices

Month/Year         Price per Gallon

October 1998     $1.02     
October 2007      $2.82   
August 2008         $3.82   

Source: Energy Information Administration

U.S. Jet Fuel Prices

Month/Year        Price per Gallon
   
August 1998         $0.51       
August 2007        $2.16
August 2008        $3.81

There has been an increase in the average price of jet fuel of 70% since August 2007.  Most airlines hedge futures in aviation fuel in order to mitigate sudden price changes in the aviation fuel market.

Source:     DOT, IATA and Platts