Global jet fuel prices have surged more than 111 per cent over the past year, climbing above $190 a barrel and intensifying pressure on airlines as they grapple with rising operating costs and the prospect of passing some of those increases on to passengers, Gulf News reported, citing IATA data.

The worldwide average reached $190.18 a barrel in the week ending October 9, 2026, an increase of 111.2 per cent from the same period a year earlier, according to the International Air Transport Association's (IATA) latest Jet Fuel Price Monitor. 

Prices rose 1.5 per cent from the preceding week and were 3.1 per cent above the previous monthly average, underscoring the sustained increase in one of the aviation industry's largest operating expenses.

The figures also revealed considerable regional differences, with jet fuel costing more than $200 a barrel in Europe and the Commonwealth of Independent States, compared with about $165 in the Middle East.

The sharp rise has raised concerns about airline profitability, the cost of operating flights and whether passengers could face higher fares.

Jet fuel prices remain volatile

Jet fuel prices fluctuated throughout September and early October, although the overall trend was upwards.

The global average stood at $181.46 a barrel in the week ending September 11, before rising 7.4 per cent to $194.90 the following week.

Prices then fell 4.9 per cent to $185.43 in the week ending September 25.

The decline proved temporary. The average recovered to $187.34 on October 2, a weekly increase of 1 per cent, before climbing another 1.5 per cent to $190.18 on October 9.

Despite the late-September decline, jet fuel prices increased by approximately 4.8 per cent between September 11 and October 9.

The fluctuations illustrate the difficulty airlines face in managing fuel expenditure when prices move sharply over relatively short periods.

Europe records highest prices; Middle East lowest

Regional figures from IATA showed Europe and the Commonwealth of Independent States recording the highest average jet fuel price, at $202.61 a barrel in the week ending October 9.

That represented an increase of 3.4 per cent from the previous week, 3.5 per cent from the previous monthly average and 122.4 per cent from a year earlier.

Africa followed at $196.54 a barrel, up 1.4 per cent weekly, 1.8 per cent monthly and 118.1 per cent annually.

North America recorded an average of $192.64, representing increases of 0.9 per cent over the week, 3.8 per cent over the month and 110.3 per cent over the year.

In Latin America and the Caribbean, the average stood at $188.78 a barrel. Prices fell 0.6 per cent from the previous week but remained 0.6 per cent higher on a monthly basis and 103.5 per cent above their level a year earlier.

Asia-Pacific reported an average of $175.44 a barrel, an increase of 0.7 per cent weekly, 2.4 per cent monthly and 102.1 per cent annually.

The Middle East recorded the lowest price among the six regions, at $165.01 a barrel.

Prices in the region declined 0.3 per cent over the week and 0.2 per cent over the month, although they remained 96.7 per cent higher than a year earlier.

Could airfares rise?

Ali Al Naqbi, chairman and chief executive of the Middle East and North Africa Business Aviation Association (MEBAA), warned that soaring jet fuel prices were among the most significant challenges facing the aviation industry, Emarat Al Youm reported.

He explained that fuel accounted for a substantial share of airlines' operating expenses, meaning increases could directly affect profit margins and their ability to control costs.

Airlines, he added, face the challenge of maintaining competitive ticket prices while limiting the financial impact of higher fuel expenditure.

The ability to withstand those pressures varies between carriers, depending on their business models, fleet sizes, fuel efficiency and use of hedging strategies to manage price fluctuations.

Al Naqbi warned that higher operating costs could prompt some airlines to reassess their route networks, adjust capacity or review fares and additional charges.

He also distinguished between commercial aviation and business aviation, where different operating models mean rising fuel prices do not necessarily affect customers in the same way.

Airlines face difficult decisions

The possibility of higher airfares has become a growing concern as jet fuel prices remain elevated.

Al Naqbi noted that fuel represented one of the largest expenditure items for airlines and that rising prices directly increased the cost of operating flights.

However, the extent of the impact differs considerably between carriers.

Airlines with more fuel-efficient aircraft or effective hedging arrangements may be better placed to manage sudden price increases, while others may face greater pressure to adjust their operations.

The structure of route networks and individual airline business models also play a role in determining how higher fuel prices affect financial performance.

According to Al Naqbi, the continued increase in aviation fuel costs raises the possibility that airlines will pass some of the additional expenses on to travellers through higher ticket prices.

With jet fuel now costing more than twice as much as a year ago, airlines face an increasingly difficult balance between protecting profitability and keeping fares competitive.

Source: Gulf News