Airfares rose 22.4% in a year as airlines paid 60 to 68% more per gallon of fuel

Airline fares in the US consumer price index were 22.4% higher in September 2026 than a year earlier, the Bureau of Labor Statistics (BLS) reported on 14 October. In July–September, Delta, United, American and Southwest paid 60 to 68% more per gallon of jet fuel than a year before, according to the third-quarter results they filed with the SEC between 9 and 22 October.

Consumer prices rose 0.6% in September and 3.7% over twelve months. Gasoline rose 9.1% in the month and, the BLS says, accounted for over half of the monthly rise. Without food and energy, prices rose 2.6% over the year. Airfares belong to that measure and rose 1.2% in September alone.

The airlines’ releases show the cost side. Delta paid an average of $3.80 a gallon as reported, against $2.26 a year earlier; United paid $3.90 against $2.43, American $3.85 against $2.37 and Southwest $3.92 against $2.40. Fuel expense rose by $1.8 billion each at Delta and United, by $1.9 billion at American and by $821 million at Southwest.

On the revenue side, the airline measure closest to a fare is yield: passenger revenue for each mile a paying passenger flies. Year on year it rose 14% at Delta, 16.8% at United, 18.3% at American and 23.3% at Southwest. Capacity, counted in available seat miles, was flat at Delta, up 1.3% at United, down 0.4% at Southwest and up 4.2% at American. The BLS prices tickets and the airlines divide revenue by miles, so the two measures differ, but both rose by double digits.

Delta’s release links the two sides. Joe Esposito, its chief commercial officer, said revenue grew “on flat capacity, driven by broad demand strength and healthy yield growth as we cover higher costs and manage the business for margins.” Southwest’s outlook for the fourth quarter and the full year assumes “the current fare environment and demand trends remain broadly intact.”

How much of the fuel bill fares covered differed by airline. On the adjusted figures each airline reports, Delta’s pre-tax income was $1.5 billion, as a year earlier, and United’s fell 8.7% to $1.1 billion. Southwest’s rose to $428 million from $75 million. American had a pre-tax loss of $222 million, against $139 million a year earlier.

The airlines expect fuel to cost more again in the fourth quarter. Based on forward fuel prices from 15 to 19 October, Southwest assumes about $4.55 a gallon, American about $4.70 and United about $4.80; American says its figure is nearly double what it paid in the fourth quarter of 2025. American, United and Delta also expect revenue to keep growing: by 19.5 to 22.5% at American, by over 20% at United and by about 20% at Delta.

The BLS publishes the October consumer price index on 10 November. In dibsresearch, you can ask the Associate about an airline’s fuel costs and open its release at the passage it cites, or put the four airlines in the Grid with fuel price and yield as columns, each cell cited to its filing.