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In just two months since the Iran war started, fuel costs for airlines have risen sharply.
Fuel costs for the U.S. airline industry have ballooned by more than 56% as of March, according to data from the federal government. The sector spent $5.06 billion on fuel in the month, up from $3.23 billion in February.
The Department of Transportation’s Bureau of Transportation Statistics said Wednesday that the average cost of a gallon of jet fuel fuel was up 30.9% as of March.
The average price of jet fuel in March was $3.13 a gallon. / Department of Transportation Bureau of Transportation Statistics
High fuel costs have already led to fare and ancillary fee increases in the industry. Multiple executives said during first-quarter earnings calls that there had already been five broad industry-wide fare increases. And major carriers, including American, Delta, United, Southwest, J
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