US jet fuel consumption increase in ’23, below pre-pandemic peak

US jet fuel consumption increased for the third consecutive year in 2023 but remained 5 per cent below the 2019 pre-pandemic peak, according to the US Energy Information Administration (EIA).

The average daily consumption in 2023 was 1.65 million barrels. Despite passenger volumes surpassing 2019 levels, jet fuel consumption has not fully rebounded due to reduced activity by foreign-based carriers, declining freight activity, and improved fuel efficiency.

In 2020, jet fuel consumption plummeted to the lowest since 1985 due to the COVID-19 pandemic. Recovery has been gradual, hindered by labour shortages and high fuel prices, which were largely resolved by 2023. However, commercial aviation, which constitutes 85 per cent of US jet fuel use, consumed 8 per cent less fuel in 2023 compared to 2019.

General aviation and military/government sectors, representing 8 per cent and 7 per cent of consumption respectively, rebounded to pre-pandemic levels by 2021.

Commercial carriers’ fuel efficiency improved, with the average fuel economy increasing to 65.5 seat-miles per gallon in 2023 from 64.9 in 2019. The lag in foreign-based carriers’ activity and a 12 per cent decline in air freight activity since 2021 also contributed to slower growth in jet fuel consumption.

Attribution: US Energy Information Administration (EIA) data