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Friday, March 29, 2024

High-season airfares soar on pricey fuel

Gains in jet fuel are double those of crude oil, but high travel demand is also pushing prices up

A Singapore Airlines plane is refuelled on the tarmac at Changi Airport in Singapore in July this year. (ExxonMobil Asia Pacific/Handout Photo via Reuters)

Travellers alarmed at sky-high airfares for the year-end holidays can add soaring fuel prices, spurred in part by Russia’s weaponisation of its energy resources, to the list of factors to blame.

The price of jet fuel — which typically accounts…

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