Jet fuel prices surge nearly 83% in a month, piling pressure on airlines: IATA

Global average jet fuel prices have surged 82.8% over the past month, sharply increasing cost pressures on airlines, according to the International Air Transport Association’s (IATA) latest fuel price monitor, Anadolu reports. IATA data showed jet fuel prices rose 11.2% week-on-week to $175 per barrel in the latest reporting period. The figures, published under license from S&P Global Energy, reflect average refinery prices for aviation fuel. On an annual basis, jet fuel prices were up 94.4%, highlighting the scale of the recent increase. The surge follows a 58.4% jump in the previous weekly reading, underscoring the rapid pace of market movements. The spike is expected to weigh heavily on airline margins, as fuel remains one of the industry’s largest operating […]