Fuel cost crisis hits airlines hard

Even if a ceasefire in the Iran war
holds and the Strait of Hormuz
reopens, the International Air
Transport Association (IATA)
warns that it will take months
for jet fuel supplies, and
therefore costs, to recover

Airlines like
Qantas are having
to raise air fares

JET FUEL PRICES
(S&P Global Platts
benchmark) Price per
gallon (and per barrel)

$6 per gallon
5
4
3
2

27 3 4 5 6 26 9 10 11 12 13 16 17 18 19 20 23 24 25 26 27 30 31 2 6 7
Feb 25
Mar 2 
Apr 1

Feb 28: U.S. and Israel
attack Iran – war begins

Asia and
Oceania
$5.49
($230.36)

Europe
$5.28
($221.55)

Middle East
and Africa
$5.23
($219.81)

Latin
America
$5.03
($211.31)

North
America
$4.69
($196.92)

EXAMPLE FUEL COSTS
Airbus A380 flying from
Sydney to Singapore
Fuel use: 4,400 gallons per hour*
Flight time: 8 hours
Total fuel used: 35,200 gallons
Feb 25 cost: $78,000
Apr 7 cost: $193,000
Increase of: $115,000

*Average figure takes into account higher burn rates for take-off and climbing, cruising burn rate, and
lower descent and landing fuel usage. Note: Chart has no data for weekends and public holidays
Sources: Reuters, BBC, IATA, S&P Global, HowStuffWorks
Picture: Qantas
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