Jet Fuel Crisis: Airlines Hiking Ticket Prices

0:00On March 31st, airlines are jacking up ticket prices big time because jet fuel is running low from the mess in the Middle East. The conflict there, kicked off by U.S. strikes on Iran back on February 28th, has blocked the straight-of-war moves, choking off supplies worldwide. President Trump just washed his hands of it on social media, saying the U.S. did the heavy lifting and telling the U.K. to grab their own oil since. America has plenty of jet fuel stocked up. Indian bosses are calling this an existential threat, with fuel costs biking 72 percent in a month, now at $4.24 a. Galen, double what it was before the war. Travelers are hit horror by longer routes dodging the hot zone, plus hikes and baggage fees. Take jet blue. They bump check bag costs to $39 off peak and $49 peak, blaming rising operations. For in Europe, Scandinavian airlines is axing hundreds of short flights in March and April to save fuel, re-booking folks where they can.

1:03U.K.'s last Middle East jet fuel ship and hits Thursday, then shortages could slam airlines by month's end if the war drags on. Experts warn of a perfect storm demand dipping but costs soaring. For months ahead, so brace for pricier trips everywhere.