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Airline's Fuel Prices Showing Significant Rate Of Climb

DOT Figures Show Fuel Costs Up 31% In May

Data from the Bureau of Transportation Statistics show that the average price per gallon of fuel used by airlines jumped 31% in May over the same month the previous year.

Dow Jones Newswires reports that airlines paid $3.03 per gallon for jet fuel in May, up from $2.32 in May of 2010 and $2.99 the previous month.

Consumption was up as well. The 1.4 billion gallons burned by U.S. airlines in May was up 2% from April.

The prices haven't been that high since 2008, and the wire service says it is prompting some carriers to reduce capacities.

FMI: www.bts.gov

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