US Jet Fuel Production Reaches All-Time High Amid Global Supply Concerns
US jet fuel output hits record high after Strait of Hormuz closure

Image: Asianet Newsable
US jet fuel production has surged to record levels following the closure of the Strait of Hormuz, which caused prices to double. Domestic inventories remain high, with exports stabilizing international markets affected by supply shortages in Europe and Asia.
- 01US jet fuel production averaged over 2.0 million barrels per day for the first time in early May 2023.
- 02Jet fuel prices in the US Gulf Coast averaged USD 3.91 per gallon from March to May, significantly higher than earlier in the year.
- 03US jet fuel inventories were reported at 45 million barrels, 7% above the 2021-2025 average as of May 29, 2023.
- 04The jet fuel crack spread increased to USD 1.25 per gallon during the March-to-May period, indicating high profitability for refiners.
- 05US jet fuel exports reached record highs in April and May, helping to stabilize international markets.
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Following the closure of the Strait of Hormuz on February 28, US jet fuel production has surged to unprecedented levels, averaging over 2.0 million barrels per day for the first time in early May 2023. This spike in production comes as prices for jet fuel doubled, driven by increased crude oil costs and supply concerns in Europe and Asia, which previously depended heavily on the Persian Gulf for imports. The US Energy Information Administration reported that domestic jet fuel inventories remained robust, totaling 45 million barrels as of May 29, 2023, which is 7% above the historical average. The financial incentives for refiners are evident, with jet fuel prices averaging USD 3.91 per gallon from March through May, significantly higher than earlier in the year. As a result of these price dynamics, US jet fuel exports have reached record highs, helping to stabilize international markets as prices in Europe and Asia began to cool from their April peaks. This shift reflects a broader adjustment in global trade flows as the market adapts to supply disruptions.
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The surge in jet fuel production and exports may lead to more stable fuel prices for consumers and businesses reliant on aviation.
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