Jet Fuel Spike Pushes Airfares Higher: When Should You Book?

A sharp rise in global energy prices is beginning to impact the aviation industry, with airlines facing mounting cost pressures that are increasingly reflected in ticket prices. Jet fuel accounts for roughly a quarter of airlines’ operating expenses, meaning sudden increases in fuel costs can quickly affect profitability and fare structures.

Industry data show that the global average price of jet fuel surged about 58% week‑on‑week to more than $157 per barrel, significantly above the roughly $88 average the sector had expected for 2026. In response to the spike, several carriers have already begun adjusting prices. Airlines such as Qantas and SAS have implemented fare increases on certain international routes, while Air New Zealand has raised prices across domestic and international services.

Analysts note that airfare adjustments often appear with a delay because flight schedules and ticket inventories are typically set months in advance. As a result, the full impact of higher fuel costs may take weeks to appear in average ticket prices. However, industry observers expect airlines to introduce fuel surcharges or broader fare increases as the cost pressures persist.

For travelers planning trips later this year, experts say booking sooner rather than later could help avoid higher prices. With the peak summer travel season approaching and fuel costs elevated, long‑haul international routes are likely to experience the largest price increases, making early reservations a key strategy for securing lower fares.