Arizona Tribune - Jet Fuel Remains Elevated at ~$4.18/Gallon, Highlights Cost Pressure Across Commercial Aviation

HOUSTON, TX / ACCESS Newswire / May 7, 2026 / XCF Global, Inc. ("XCF") (Nasdaq:SAFX), an emerging renewable fuels player focused on lowering emissions and strengthening the resilience of the aviation fuel supply chain through sustainable aviation fuel ("SAF"), today highlighted how elevated jet fuel prices continue to pressure the commercial aviation sector and reinforce the strategic importance of expanding domestic aviation fuel alternatives.

The Argus US Jet Fuel Index, published by Airlines for America, was $4.18 per gallon on May 5, 2026. Argus has also reported that the index averaged approximately $2.97 per gallon year to date through early April, up about 33% from the same period last year. Fuel remains one of the airline industry's largest and most volatile operating inputs, and sustained increases in conventional jet fuel can affect pricing, route economics, network planning, and margins across the sector.

As airlines and fuel purchasers navigate a market shaped by elevated fuel costs and supply uncertainty, XCF believes the current environment reinforces the value of building domestic, waste-based SAF production capacity. Over time, a broader aviation fuel supply base may help support greater resilience, supply visibility, and diversification for the sector.

For XCF, the opportunity is not only about fuel cost, but also about fuel resilience. The company believes domestic SAF capacity can become increasingly relevant as airlines and other market participants seek lower-emission fuel options supported by U.S. production, domestic feedstock sourcing, and stronger supply-chain visibility.

"For airlines, fuel remains one of the largest variable costs," said Chris Cooper, Chief Executive Officer of XCF Global. "When conventional jet fuel prices remain elevated, the effects can move quickly through airline planning, economics, and procurement. We believe domestic SAF capacity can become increasingly important as the industry looks to broaden its fuel supply base while advancing lower-emission alternatives."

XCF's New Rise Renewables Reno facility is currently completing planned upgrades and is expected to return to operations in June 2026. XCF believes restoring domestic SAF production capacity into this market environment is strategically important as the aviation industry continues to evaluate long-term fuel supply diversification.

As commercial airlines continue to evaluate pathways for incorporating SAF into their fuel strategies, documentation and traceability remain important operational considerations. XCF's sustainability certification and chain-of-custody systems are designed to support customer reporting requirements, including documentation associated with CORSIA-eligible SAF where applicable, which the company believes can enhance commercial readiness as production resumes.

About XCF Global, Inc.

XCF Global, Inc. ("XCF") is an emerging sustainable aviation fuel company dedicated to accelerating the aviation industry's transition to net-zero emissions. Our flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year, positioning XCF as an early mover among large-scale SAF producers in North America. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX.

To learn more, visit www.xcf.global

Contacts

XCF Global:
Corporate Comms
[email protected]

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties, including statements regarding the potential of sustainable aviation fuel to reduce greenhouse gas emissions and the prospectus of XCF's commercial operations and growth strategy. All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," "objective," "goal," "designed," or the negatives of these words or other similar terms or expressions that concern XCF's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.

We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.

Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, and legal conditions; (2) unexpected increases in XCF Global's expenses, including manufacturing and operating expenses and interest expenses, as a result of potential inflationary pressures, changes in interest rates and other factors; (3) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any agreements with regard to XCF Global's business combination agreement with DevvStream Corp. and Southern Energy Renewables Inc. (the "Business Combination") and/or its offtake arrangements; (4) the outcome of any legal proceedings that may be instituted against the parties to the Business Combination or others; (5) XCF Global's ability to regain compliance with Nasdaq's continued listing standards and thereafter continue to meet Nasdaq's continued listing standards; (6) XCF Global's ability to integrate the operations of New Rise and implement its business plan on its anticipated timeline; (7) XCF Global's ability to raise financing to fund its operations and business plan and the terms of any such financing; (8) the New Rise Reno production facility's ability to produce the anticipated quantities of SAF without interruption or material changes to the SAF production process; (9) the New Rise Reno production facility's ability to produce renewable diesel in commercial quantities without interruption during the ongoing SAF ramp-up process; (10) XCF Global's ability to resolve current disputes between its New Rise subsidiary and its landlord with respect to the ground lease for the New Rise Reno facility; (11) XCF Global's ability to resolve current disputes between its New Rise subsidiary and its primary lender with respect to loans outstanding that were used in the development of the New Rise Reno facility; (12) payment of fees, expenses and other costs related to the completion of the Business Combination and the New Rise acquisitions; (13) the risk of disruption to the current plans and operations of XCF Global as a result of the consummation of the Business Combination; (14) XCF Global's ability to recognize the anticipated benefits of the Business Combination and the New Rise acquisitions, which may be affected by, among other things, competition, the ability of XCF Global to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (15) changes in applicable laws or regulations; (16) risks related to extensive regulation, compliance obligations and rigorous enforcement by federal, state, and non-U.S. governmental authorities; (17) the possibility that XCF Global may be adversely affected by other economic, business, and/or competitive factors; (18) the availability of tax credits and other federal, state or local government support; (19) risks relating to XCF Global's and New Rise's key intellectual property rights, including the possible infringement of their intellectual property rights by third parties; (20) the risk that XCF Global's reporting and compliance obligations as a publicly-traded company divert management resources from business operations; (21) LOIs and MOUs may not advance to definitive agreements or commercial deployment; (22) the effects of increased costs associated with operating as a public company; and (23) various factors beyond management's control, including general economic conditions and other risks, uncertainties and factors set forth in XCF Global's filings with the Securities and Exchange Commission ("SEC"), including its most recent Form 10-K, filed with the SEC on March 31, 2026, this Press Release and other filings XCF Global made or will make with the SEC in the future. If any of the risks actually occur, either alone or in combination with other events or circumstances, or XCF Global's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that XCF Global does not presently know or that it currently believes are not material that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect XCF Global's expectations, plans or forecasts of future events and views as of the date of this Press Release. These forward-looking statements should not be relied upon as representing XCF Global's assessments as of any date subsequent to the date of this Press Release. Accordingly, undue reliance should not be placed upon the forward-looking statements. While XCF Global may elect to update these forward-looking statements at some point in the future, XCF Global specifically disclaims any obligation to do so.

Although the business combination agreement is binding on the parties, it does not obligate the parties to consummate the proposed transaction. The consummation of the proposed transaction remains subject to the satisfaction or waiver of applicable closing conditions, and the business combination agreement may be terminated in accordance with its terms. There can be no assurance that the proposed transaction will be consummated on the terms described herein or at all. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not guarantees of future performance or outcomes.

Any forward-looking statements speak only as of the date of this press release. XCF undertakes no obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this press release nor the continued availability of this press release in archive form on XCF's website at www.xcf.global/investor-relations should be deemed to constitute an update or re-affirmation of these statements as of any future date.

SOURCE: XCF Global, Inc.

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P.Smith--AT