Biggest US airlines miss out on lowest jet fuel prices in 12 years

Calgary

THE biggest US airlines missed their chance to lock in the cheapest energy costs in more than 12 years after jet fuel surged as much as 80 per cent since January.

The fuel on the US Gulf Coast was trading at US$1.32 a gallon on Thursday, up from less than 80 US cents on Jan 20, the lowest intraday level since November 2003. The gain came as oil prices rebounded about 70 per cent over the same period.