As the war in Iran spills over into other parts of the Middle East, energy experts expect the price of several oil and gas products to soar over the coming months, driven by shortages. This will likely affect flight prices, with several airlines warning of anticipated price hikes. It could lead to a travel slump, as consumers wait for prices to fall again.
Australia’s Qantas Airways, Scandinavia’s SAS, and Air New Zealand are three of the airlines to have already announced airfare hikes in response to the ongoing conflict in the Middle East. The airlines cited the abrupt spike in the cost of fuel driven by the U.S.-Israel attack on Iran as the reason for the move.
Jet fuel prices rose from between $85 to $90 a barrel before the attack on Iran to as much as $150 to $200 a…
more
Source oilprice.com
Terms of use and third-party services. More here.