Jet fuel prices have risen from an average of USD$90 up to $200 per barrel due to attacks on refineries, disruptions to supply chains and access to the Strait of Hormuz, one of the world’s most important oil chokepoints. If the Strait stays closed, the world will be forced to significantly reduce its dependency on oil and gas, but not before price increases affect global economies and the fuel crisis—which is already hitting Asia—spreads to the rest of the world. Air France-KLM said it plans to increase long-haul ticket prices, with cabin fares set to rise by USD$57 (50 euros); Air New Zealand was one of the first to announce ticket increases, adding USD$6 (NZ$10) to one-way economy fares and USD$51 (NZ$90) on long-haul flights; Thai Airways is raising fares by 10 to 15 percent; Hong Kong Airlines raised fuel surcharges by up to 35 percent; and US-based low-cost carrier Jetblue Airways is increasing fees for optional services, like baggage.
Author: Tayla Gentle
Published at: 2026-04-01 21:44:00
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