Air travel ticket prices set to rise as Spain warns of hike after Iran oil shock<\/figcaption><\/figure>\n<\/div>\nThe global aviation industry is in a state of disruption due to the devastating US-Iran conflict. The oil shock and jet fuel crisis have added to the woes of travelers as they face delays and cancellations of flights. <\/p>\n
Major airlines are struggling to deal with the aviation crisis by raising ticket prices, fees and surcharges, with no idea when things will calm down.<\/p>\n
Amid growing uncertainty, Spain has issued an urgent warning, urging consumers to buy airline tickets as soon as possible as fares are expected to rise due to higher oil prices. <\/p>\n
Despite rising air travel fares, Spain is on track to maintain its impressive tourism growth trajectory after last year’s record-breaking performance, according to Jordi Heru, Spain’s Minister of Industry and Tourism. <\/p>\n
After hosting 97 million international visitors, a growth of 3.5 per cent was seen compared to 2024. <\/p>\n
\u201cWhat we are recommending is that people buy their tickets now because it is true that (airlines) are currently using kerosene that was purchased some time ago, and so there is an element of price fluctuation involved,\u201d Heru said.<\/p>\n
“It is already clear that prices have increased and this may impact demand,” he said. He said Spanish and European authorities were taking measures to deal with the fuel shortage.<\/p>\n
Since the start of the US-Iran conflict on February 28, energy markets have been on edge, with massive disruptions to the oil supply chain and oil prices rising nearly 50 percent. <\/p>\n
Skyrocketing oil prices have caused airfares on long-haul flights from Europe to rise by more than $100. Jet fuel prices, which make up about 25-30 percent of airlines’ costs, were more than $2 a gallon earlier this month and remain high. <\/p>\n<\/p><\/div>\n