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00:03U.S. airlines spent $5.06 billion on jet fuel in March, up 56.4% from $3.23 billion
00:10in February
00:11after the U.S.-Israel strikes on Iran began, according to CNBC. Fuel costs were also 30%
00:19higher than in March 2025, according to the Department of Transportation. Airlines lowered
00:24or withdrew 2026 forecasts as higher fuel prices increased operating costs. Some carriers reduced
00:31growth plans to limit expensive capacity. Jet fuel prices topped $4 per gallon in some markets in
00:38April as the war continued and the Strait of Hormuz was effectively closed. Spirit Airlines
00:43collapsed over the weekend and said higher fuel costs disrupted its bankruptcy exit plans.
00:48Airlines said they expect customers to absorb higher fuel costs by early 2027 or sooner.
00:55Travel demand remained resilient in March as travel agency ticket sales rose 12% to $10.4 billion.
01:02Domestic trips increased 5% and international trips rose 1%.
01:07For all things money, visit Benzinga.com.
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