Jet Fuel against the WTI crude price, both set to 100 in the first month they share
Sep 2026WPU057203 288WTI crude price 185
Sources: WPU057203 (Jet Fuel); EIA via FRED, MCOILWTICO.
Since 2017, this index has followed the WTI crude price about one month later and moved about as far as it over a year.
Over the 12 months to Sep 2026, the WTI crude price rose 52.1% and this index rose 104.4%.
Key figures
Since Jan 2017
+188.3%
164.3 to 473.7
12-month volatility
±16.7%
std. dev. of monthly change
Largest monthly rise
+47.6%
Jun 2020
10% cap would bind
26 of 36
months, annual base reset
From Jan 2017 to Sep 2026 the index went from 164.3 to 473.7, a change of +188.3%.
Highest reading in that period: 473.7 in Sep 2026. Lowest: 69.5 in May 2020.
Largest one-month rise: +47.6% in Jun 2020. Largest one-month fall: -48.6% in Apr 2020.
For a clause that resets its base every year, a 10% cap or floor would have limited the adjustment in 26 of the last 36 months.
Use it in a contract
Draft clause citing this series
A starting point citing this series by name and code. Replace the bracketed terms with your contract's actual scope before use.
The [affected portion] of the Contract Price shall be adjusted using US PPI — Jet Fuel (BLS series WPU057203), published by BLS.
Base Period: the index value published for September 2026 (or the month of contract signing, if different) is the Base Value.
Adjustment: at each Adjustment Date, the Current Value is the most recently published three-month average of the index (the Averaging Window). The Escalation Factor equals Current Value divided by Base Value.
Cap: the Escalation Factor applied under this clause shall not exceed 1.10 or fall below 0.90 (a 10% cap and floor) in any single Adjustment Date, regardless of the index's actual movement.
[Replace bracketed terms with your contract's actual affected-portion definition and adjustment-date schedule before use. This is a drafting starting point, not legal advice.]
New aircraft are escalated with a labor and inflation formula, not a manufacturing PPI: 65% Employment Cost Index (manufacturing, CIU2013000000000I) plus 35% CPI-U (CUUR0000SA0), measured against base-year values and applied at delivery. Spare parts have no series built for them, so price them from a weighted input composite instead.
Let Escalake run this clause for you
Escalake tracks US PPI — Jet Fuel, applies your formula, and gives both sides a number they can confirm, no spreadsheet required.