Air Canada suspending flights to JFK for 5 months, blaming soaring jet fuel costs

Average jet fuel prices rose to $4.32 per gallon on Thursday, up from $2.50 before the war in Iran began, indicating a sharp cost increase for airlines and other transportation users. The move reflects geopolitical risk spilling into energy markets and is likely to pressure operating margins if sustained.

Analysis

Average jet fuel prices rose to $4.32 per gallon on Thursday, up from $2.50 before the war in Iran began, indicating a sharp cost increase for airlines and other transportation users. The move reflects geopolitical risk spilling into energy markets and is likely to pressure operating margins if sustained.