Seattle Pi
High airfares could stick around even if jet fuel prices fall
xCruzo Brief
Even if jet fuel prices fall, U.S. airlines may keep fares elevated because the key problem is not just fuel costs, but their volatility. Jet fuel jumped after the Iran war began, dropped sharply in spring, then surged again through summer. The Argus U.S. Jet Fuel Index fell from $4.88 a gallon in early April to $2.70 in June, yet average base fares stayed high. Bureau of Transportation Statistics data show average fares rose from $405 (last three months of 2025) to $428 (first quarter) and $436 (April–June). In August, fares were 23% higher year-on-year while jet fuel reached $4.53 on Sept. 17.
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