WASHINGTON (AP) - The average cost of jet fuel for U.S. air carriers dropped to $1.84 per gallon in January, down five cents from December's levels, but still four cents higher than the same month last year, according to government statistics released Monday.
According to data from the Transportation Department's Bureau of Transportation statistics, jet fuel costs have soared this decade, from 81 cents per gallon in 2000 to a peak annual average of $1.96 a gallon last year.
The Air Transport Association, the trade group representing airlines such as American Airlines and Southwest Airlines and United Airlines, says jet fuel has risen from 10 to 15 percent of expenses to up to 30 percent of expenses, overtaking labor as the top cost for many carriers.
Shares of AMR Corp., parent of American , rose 87 cents to close at $32.93 in Monday's trading on the New York Stock Exchange, where shares of Southwest Airlines Co. were unchanged at $15. Shares of United parent UAL Corp. rose $1.35 to $39.81.
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