Aviation: Impact of Fuel Price Increases on the Aviation Industry

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By Gerald L. Dillingham (au)
Year: 2014
Pages: 30
Binding Paperback
ISBN 978-1-4578-5811-6

Product Code: 1457858118

Description

The aviation industry is vital to the U.S. economy. Passenger airlines directly generate billions of dollars in revenues each year and communities depend on passenger airlines to help connect them to the national transportation system. Between 2002 and 2013, jet fuel prices more than quadrupled from $0.72 to $2.98 per gallon and general aviation gasoline prices more than tripled from $1.29 to $3.93 per gallon in nominal terms. The Airport and Airway Trust Fund is funded principally by excise taxes on ticket purchases, aviation fuel, and cargo shipments as well as interest revenue. This report discusses (1) the impact of increases in fuel prices from 2002 to 2013 on commercial passenger aviation; (2) the impact of increases in fuel prices from 2002 to 2012 on general aviation; and (3) the results of GAO's analysis of how future increases in fuel prices could impact the trust fund. Tables and figures. This is a print on demand report.

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