{"id":68935,"date":"2026-03-06T21:01:31","date_gmt":"2026-03-06T21:01:31","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/united-airlines-ceo-said-u-s-airfares-could-soon-rise-as-iran-war-drives-up-oil-prices\/"},"modified":"2026-03-06T21:01:31","modified_gmt":"2026-03-06T21:01:31","slug":"united-airlines-ceo-said-u-s-airfares-could-soon-rise-as-iran-war-drives-up-oil-prices","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/united-airlines-ceo-said-u-s-airfares-could-soon-rise-as-iran-war-drives-up-oil-prices\/","title":{"rendered":"United Airlines CEO said U.S. airfares could soon rise as Iran war drives up oil prices"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Travelers could soon see a rise in U.S. airfares as <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/oil-prices-iran-war-strait-of-hormuz-gas\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">rising global oil costs<\/a><\/span> due to the\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/live-updates\/us-iran-war-israel-strikes-regime-targets\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Iran war<\/a><\/span>\u00a0boost the cost of jet fuel.<\/p>\n<p>Speaking at an industry event on Thursday, United Airlines CEO Scott Kirby said rising fuel costs will have a &#8220;meaningful&#8221; impact on the carrier&#8217;s financial results this quarter, <a href=\"https:\/\/www.cnbc.com\/2026\/03\/06\/united-airlines-ceo-scott-kirby.html\" target=\"_blank\" rel=\"nofollow noopener\">CNBC<\/a> reported. He also said the impact on air ticket costs will &#8220;probably start quick.&#8221; United confirmed Kirby&#8217;s comments with CBS News.\u00a0<\/p>\n<p>West Texas Intermediate, the U.S. oil benchmark, shot up more than 11% on Friday to nearly $91 per barrel after President Trump demanded Iran&#8217;s &#8220;unconditional surrender,&#8221; stoking investor concerns about a prolonged conflict. Brent crude, the international benchmark, jumped to $92.47, the highest level in nearly two years.<\/p>\n<h2>Surging jet fuel costs<\/h2>\n<p>Jet fuel, which accounts for about one-fifth of airlines&#8217; operating expenses, on Thursday cost $3.95 a gallon, up 56% from $2.50 in late February, one day before the joint U.S.-Israel attack on Iran, according to the Argus U.S. <a href=\"https:\/\/www.airlines.org\/dataset\/argus-us-jet-fuel-index\/\" target=\"_blank\" rel=\"nofollow noopener\">Jet Fuel Index<\/a>.<\/p>\n<p>The Strait of Hormuz, a <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/strait-of-hormuz-iran-oil-prices-us\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">vital trade route<\/a><\/span> in the Middle East for oil and liquefied natural gas, is effectively closed because of the war. That supply disruption is now causing &#8220;stratospheric moves in global jet pricing,&#8221; James Noel-Beswick, head of commodities at market research firm Sparta, said in a client note this week.<\/p>\n<p>Noel-Beswick also noted that jet fuel prices in Europe have hit their highest level since 2022, as airlines face &#8220;both longer flight routes and tightening supply.&#8221;\u00a0<\/p>\n<p>Vidya Mani, a visiting associate professor at Cornell University&#8217;s SC Johnson College of Business, told CBS News that war-related constraints on oil and gas supplies could lead to inflationary pressures across a range of goods.<\/p>\n<p>&#8220;When this lasts for several weeks [or] months, the compounding effect ripples through supply chains due to the lack of energy access at major manufacturing hubs,&#8221; she said.\u00a0<\/p>\n<h2>Lost revenue<\/h2>\n<p>Airlines already face lost revenue from canceled or diverted flights in the Middle East due to the war. For carriers and other oil-intensive industries, much depends on the duration of conflict, according to Fitch Ratings.<\/p>\n<p>&#8220;Disruption increases operating costs through longer routings, additional technical stops, crew and staff overtime, and higher accommodation and handling expenses,&#8221; analysts with the credit bureau wrote in a\u00a0<a href=\"https:\/\/www.fitchratings.com\/research\/corporate-finance\/risks-of-middle-east-aviation-disruption-rise-longer-it-lasts-05-03-2026\" target=\"_blank\" rel=\"nofollow noopener\">report<\/a>. &#8220;As well as lost revenue, airlines are likely to be affected by higher fuel prices.&#8221;<\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/alain-sherter\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Alain  Sherter<\/a>\n                      <\/p>\n<p class=\"content__meta--contributors\">\n<p>                      <span class=\"byline__author__text\">The Associated  Press<\/span><\/p>\n<p>        contributed to this report.\n    <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<div class=\"component__item-recirc-block\">\n<p><h3 class=\"component__title\">Go deeper with The Free Press<\/h3>\n<\/p><\/div>\n<\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     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