European Jet Fuel Hits Highest Level Since April as IATA Slashes 2026 Profits
European jet fuel averaged $4.63 per gallon in September, while IATA lowered its sector profit forecast to $23 billion compared to $45 billion in 2025.
The average price of jet fuel in Europe reached $4.63 per gallon during September, marking its highest level since April, and peaking at $4.92 on September 18, according to Eurocontrol data cited by the "Liberal" website.
This level is nearly double the pre-crisis benchmark price of $2.26, at a time when IATA raised its jet fuel price forecast for 2026 to $152 per barrel, about 70% higher than in 2025.
Consequently, IATA lowered its forecast for net profits in the aviation sector to $23 billion compared to $45 billion in 2025, while Energy Aspects expects a deficit in Europe's supply of about 510,000 barrels per day in the fourth quarter.
This increase matters to passengers and airlines in the Arab region and Europe, as fuel is the largest item in operating costs, and any increase in it reflects on ticket prices or on carriers' ability to sustain low-profitability routes.
What do these terms mean?
Jet Fuel: A type of kerosene designated for aircraft engines, representing the largest operating cost item for airlines after wages.
International Air Transport Association (IATA): The organization representing the world's airlines, issuing sector profit forecasts and air traffic data.
Gallon: A unit of measurement for liquids equal to about 3.8 liters, used in pricing fuel in the US and European markets.
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