Maj. Gen. Stephen Lorenz, a top Air Force budget official, says USAF is in the hole by about $800 million this year—all due to fuel increases. The big gas guzzler is Operation Noble Eagle, the domestic air defense activity now ending its fourth year. Noble Eagle now has a total annual price tag of $1.2 billion—or about $100 million per month.
The U.S. military conducted strikes on Iranian targets around the Strait of Hormuz on May 7, as the conflict with Iran flared up again—though officials say the ceasefire remains in effect.