Plane tickets see price hikes as war in Middle East pushes jet fuel costs

Prices at airlines around the world are seeing fare hikes and fuel surcharges as the war in the Middle East pushes jet fuel costs higher.

In Canada, Air Transat has increased its fuel surcharges for flights to Europe, on top of higher fares on peak travel dates, and routes with less competition.

WestJet and Porter airlines have both suggested price increases may be necessary.

Air Canada has not speculated on future increases.

Air New Zealand, Australia’s Qantas Airways and Scandinavia’s SAS are among the large airlines to announce price hikes abroad.

The price of jet fuel skyrocketed 81 per cent last week and on Tuesday sat 52 per cent higher than levels from Feb. 27, the day before the U.S. and Israel launched attacks, according to figures from the Platts jet fuel index.

The global price, which rose to nearly US$4.37 per gallon last week, topped US$3.67 on Tuesday, up from about US$2.41 per gallon on Feb. 27.

The roller-coaster ride roughly traces crude oil prices, which have swelled well above recent levels during the past week and a half, currently sitting over 40 per cent higher than before the strikes on Iran began.

With files from The Canadian Press.

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