How High Will Jet Fuel Go? $225 A Barrel By Year's End, Aviation Expert Says

Jet fuel prices could keep climbing fast, with aviation risk expert John Gradek of McGill University telling Forbes he expects $200 a barrel by end of September and $225 by end of December. That would represent a 15% jump versus the IATA Jet Fuel Monitor’s reported global average of $194.90 per barrel at the end of last week, after a 96% rise since Feb. 27, the day before the Iran war began, when jet fuel cost $99.40 per barrel. Major U.S. carriers including American, United and Southwest have already started cutting flights. Gradek also said the airline industry’s planning horizon has shrunk to month-to-month as fuel volatility drives decisions.