Jet Fuel Nears $5 a Gallon in New York and Los Angeles on Refinery Strikes

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Summary · why it matters

Jet fuel prices in New York and Los Angeles are approaching $5 per gallon as Ukrainian strikes on Russian refineries and reduced Middle East shipments of refined products pressure supplies. Jet fuel reached $4.95 per gallon in New York on Thursday, the highest level since late March, while Los Angeles prices climbed to $4.91, the highest since late April. Gulf Coast prices, the U.S. benchmark region, have declined slightly from last month. Delta Air Lines said Friday it expects to absorb approximately $6 billion in additional fuel costs this year compared to 2025, according to its earnings outlook, and projects a fuel price of $4.25 per gallon for the upcoming quarter. Diesel supplies have faced the most pressure both internationally and in the U.S., with stockpiles at their lowest seasonal levels on record, and jet fuel production has fallen back near March levels after increasing between April and September.

Impact on assets 3

Industrials▼
Delta Air Lines Inc
DAL
▼ NegativeSupplyrelevance

Delta expects to absorb ~$6B in additional fuel costs this year as jet fuel prices near $5/gallon on refinery strikes and reduced shipments.

Financials▲
Others▲
⛏Heating Oil Futures
HEATOIL
▲ PositiveSupplyrelevance

Diesel/heating oil supplies are at record-low seasonal levels amid refinery strikes and reduced refined-product shipments, pressuring distillate prices higher.