What is the price of jet fuel in 2026?

In 2026, Jet A-1 aviation kerosene has traded in the range of approximately $750–$900 per metric tonne (roughly $2.30–$2.75 per US gallon) at major aviation hubs including London Heathrow, Singapore, and Dubai. Prices move closely with crude oil (Brent) and the jet fuel crack spread over crude. The 2025 crude price decline brought jet fuel costs down significantly from 2022–2023 peaks before a partial recovery in 2026.

Why is jet fuel more expensive than diesel?

Jet fuel (Jet A-1) commands a higher crack spread than road diesel for several reasons: it has tighter quality specifications (particularly for freeze point, flash point, and thermal stability), must be manufactured to ASTM D1655 / DEF STAN 91-091 standards, has higher logistics and storage costs (dedicated pipelines and hydrant systems at airports), and carries no government road fuel duty — but also no tax rebate. In most years the jet fuel crack spread over Brent is $5–15/bbl wider than the diesel crack spread.

What is Sustainable Aviation Fuel (SAF) and how much does it cost compared to conventional jet fuel?

SAF is aviation fuel produced from sustainable feedstocks (used cooking oil, agricultural waste, green hydrogen, CO2) that reduces lifecycle carbon emissions by 70–90% versus conventional jet fuel. In 2026, SAF costs approximately 3–5 times more than conventional Jet A-1 — roughly $2,500–$4,000/tonne versus $750–$900/tonne for conventional. This 'green premium' is the central challenge for aviation decarbonisation. EU SAF blending mandates require 2% SAF in 2025, rising to 6% by 2030 and 70% by 2050.

How much of an airline's costs is fuel?

Fuel typically accounts for 20–30% of total airline operating costs in normal market conditions, making it the largest single cost category after labour for most carriers. At the 2022 peak (jet fuel near $1,500/tonne), fuel rose to 35–40% of costs for some airlines. Low-cost carriers like Ryanair and easyJet tend to have slightly lower fuel cost shares due to high seat density and newer aircraft, but even for them fuel is the dominant variable cost.

Jet Fuel Prices 2026: Aviation Kerosene, SAF Premiums & Airline Fuel Costs

Published 15 April 2026 · Updated 15 October 2026

Jet fuel is the largest single variable cost for commercial airlines, and its price trajectory in 2026 — recovering modestly after the 2025 crude decline — has significant implications for airfares, route economics, and the pace of the aviation industry's transition to Sustainable Aviation Fuel (SAF). While closely linked to crude oil prices, jet fuel has its own supply-demand dynamics, quality requirements, and infrastructure constraints that regularly push its price premium above diesel and other distillates.

For broader context on how crude prices transmit to refined product prices, see our guide on the oil price to pump price lag. For live road fuel pump prices globally, use the fuel price explorer.

What is jet fuel?

Commercial aviation runs on kerosene-type jet fuel. Two main grades are in use globally:

Jet A-1: Used worldwide (except the US). Freeze point of −47°C. Produced to DEF STAN 91-091 (UK) / ASTM D1655 Jet A-1. This is the dominant global grade.
Jet A: Used primarily in North America. Freeze point of −40°C. Slightly less stringent than Jet A-1 but similar specification otherwise.
Avgas (aviation gasoline): A separate product for piston-engine light aircraft, not used in commercial jets.

Jet fuel is produced in the kerosene cut from crude distillation — the fraction boiling between approximately 150°C and 300°C, between petrol-range naphtha and diesel-range gasoil. It must pass stringent quality tests for thermal stability, lubricity, water separation, and electrical conductivity before it is certified for aviation use. For background on the refining process, see our glossary entry on how refineries work.

How jet fuel is priced

Jet fuel is a traded commodity priced at major aviation hubs. Key price benchmarks:

Hub	Benchmark	Relevance
Northwest Europe	CIF NWE Jet A-1 (Platts)	Basis for European airline contracts; feeds from Rotterdam/ARA
Singapore	Singapore Jet A-1 (Platts)	Asia-Pacific aviation benchmark
US Gulf Coast	USGC Jet (OPIS)	North American airline pricing
Into-plane premium	Airport-specific surcharge	Additional cost for hydrant delivery at individual airports

Airlines do not pay road fuel taxes on jet fuel — aviation fuel is exempt from excise duty in most countries under the 1944 Chicago Convention, which established the international aviation framework. This exemption (worth ~65–70 ct/litre if road fuel duty rates applied) is a longstanding point of contention between aviation and road transport.

Jet fuel vs diesel: why jet fuel trades at a premium

Characteristic	Jet A-1	Road diesel (ULSD)
Boiling range	~150–300°C	~160–370°C
Freeze point	Max −47°C (Jet A-1)	Max −15°C (summer); −26°C (winter)
Flash point	Min +38°C	Min +55°C
Sulfur content	Max 3,000 ppm (legacy spec); 15 ppm (new ULSK)	Max 10 ppm (ULSD)
Quality certification	ASTM D1655 / DEF STAN 91-091; airline batch approval	EN 590 (Europe); ASTM D975 (US)
Infrastructure	Dedicated airport pipelines, hydrant systems, bonded storage	Standard road tanker and storage
Typical crack over Brent (2026)	$18–28/bbl	$14–22/bbl

The jet fuel crack spread is typically $4–8/bbl above the diesel crack spread because of the tighter quality specifications, certification costs, and dedicated infrastructure. During periods of high air travel demand (post-COVID recovery 2022–2023), the jet crack widened to exceptional levels above $40/bbl. For more on crack spreads, see the crack spread glossary entry.

Sustainable Aviation Fuel (SAF): the green premium

SAF is drop-in jet fuel produced from renewable or waste feedstocks rather than crude oil. Current production routes include:

HEFA (Hydroprocessed Esters and Fatty Acids): From used cooking oil, tallow, algae oil. The dominant current SAF pathway. Reduces lifecycle CO₂ by ~70–80% vs conventional.
ATJ (Alcohol-to-Jet): From bioethanol or isobutanol derived from agricultural waste. ~50–75% CO₂ reduction.
PtL (Power-to-Liquid / e-fuel): Synthetic jet fuel from green hydrogen + captured CO₂. Potentially near-zero carbon. Currently expensive; scale-up needed.
FT (Fischer-Tropsch) from waste: Municipal solid waste or agricultural residue converted to syngas, then to SAF. Emerging commercial scale.

Fuel type	2026 indicative price ($/tonne)	vs conventional Jet A-1
Conventional Jet A-1	~$800–$920	—
HEFA-SAF (certified)	~$2,200–$3,200	2.4–3.5× premium
ATJ-SAF	~$2,800–$3,800	3–4× premium
PtL e-SAF (early commercial)	~$5,000–$8,000+	5–9× premium

The EU's ReFuelEU Aviation regulation mandates SAF blending at European airports: 2% from 2025, 6% from 2030, 20% from 2035, 70% by 2050. Meeting the 2030 target will add approximately €8–15 per passenger on a typical European short-haul flight based on 2026 SAF pricing.

How airlines manage jet fuel price risk

Airlines use fuel hedging to reduce their exposure to jet fuel price volatility. Common instruments include:

Crude oil futures and options: Jet fuel closely tracks Brent; hedging crude partially hedges jet fuel exposure even where direct jet fuel derivatives have less liquidity
Jet fuel swaps: Agree a fixed price for a defined volume over a future period; if market price exceeds the swap price, the airline pays the fixed rate; if below, it benefits
Crack spread swaps: Hedge the jet-crude differential independently from crude price risk
Collars: Buy a price cap option (protection against rises above a ceiling) and sell a floor option (give up some benefit if prices fall below a floor) — a cheaper hedge structure

Hedging strategies have varied outcomes. Airlines with heavy hedge positions in early 2020 (when COVID collapsed demand) faced large mark-to-market losses on hedges for fuel they never burned. In contrast, airlines that hedged in early 2022 benefited significantly from the Russia-Ukraine spike. See our guide to fuel hedging for airlines for a deeper analysis.

How jet fuel costs feed into ticket prices

Fuel accounts for roughly 20–30% of airline operating costs in 2026 conditions. For a typical 1,000 km European short-haul flight, a £100 ticket carries approximately £20–28 of fuel cost. Airlines typically pass through fuel cost changes via fuel surcharges (separately itemised in many markets) or through base fare adjustments.

The pass-through is not immediate or complete — intense competition on popular routes constrains fare increases even when fuel costs rise. Low-load-factor routes and less price-competitive markets are most exposed to fuel surcharge additions.

For context on how this compares to the road fuel cost borne by individual drivers — where the tax component is far larger — see our guide on what makes up the price at the pump.

Frequently asked questions

What is the price of jet fuel in 2026? Jet A-1 has traded in approximately $750–$920 per metric tonne ($2.30–$2.75/US gallon) at major aviation hubs in 2026. Prices recovered partially from the 2025 crude price trough and remain significantly below the 2022 post-invasion peak of ~$1,400–$1,600/tonne.: Jet A-1 has traded in approximately $750–$920 per metric tonne ($2.30–$2.75/US gallon) at major aviation hubs in 2026. Prices recovered partially from the 2025 crude price trough and remain significantly below the 2022 post-invasion peak of ~$1,400–$1,600/tonne.
Why is jet fuel more expensive than diesel? Jet fuel commands a higher crack spread than diesel because of tighter quality specifications (freeze point, thermal stability, certification to ASTM/DEF STAN standards), dedicated airport infrastructure costs, and batch approval requirements. The jet-over-diesel crack premium is typically $4–8/bbl in normal market conditions.: Jet fuel commands a higher crack spread than diesel because of tighter quality specifications (freeze point, thermal stability, certification to ASTM/DEF STAN standards), dedicated airport infrastructure costs, and batch approval requirements. The jet-over-diesel crack premium is typically $4–8/bbl in normal market conditions.
What is SAF and how much does it cost vs conventional jet fuel? SAF (Sustainable Aviation Fuel) is produced from renewable feedstocks (used cooking oil, waste biomass, green hydrogen) and reduces lifecycle carbon by 70–90%. In 2026, certified SAF costs 2.4–3.5× more than conventional Jet A-1 for the main HEFA route (~$2,200–$3,200/t vs ~$800–$920/t). The EU mandates 2% SAF blending from 2025, rising to 70% by 2050.: SAF (Sustainable Aviation Fuel) is produced from renewable feedstocks (used cooking oil, waste biomass, green hydrogen) and reduces lifecycle carbon by 70–90%. In 2026, certified SAF costs 2.4–3.5× more than conventional Jet A-1 for the main HEFA route (~$2,200–$3,200/t vs ~$800–$920/t). The EU mandates 2% SAF blending from 2025, rising to 70% by 2050.
How much of an airline's costs is fuel? Fuel typically accounts for 20–30% of total airline operating costs, making it the largest single variable cost. At the 2022 peak (~$1,500/tonne), fuel reached 35–40% of costs for some airlines. In 2026 conditions (~$800–$920/tonne), fuel is back in the 22–28% range for most carriers.: Fuel typically accounts for 20–30% of total airline operating costs, making it the largest single variable cost. At the 2022 peak (~$1,500/tonne), fuel reached 35–40% of costs for some airlines. In 2026 conditions (~$800–$920/tonne), fuel is back in the 22–28% range for most carriers.