Air travel ticket prices set to surge as Spain warns of spike after Iran oil shock

The global aviation industry is in a disruptive state driven by devastating US-Iran conflict. Oil shocks and jet fuel crisis have worsened the woes of travellers as they are facing flight delays, and cancellations.

Big airlines are struggling to deal with the aviation crisis by increasing ticket prices, fees, and surcharges with no idea when things will cool down.

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In the midst of growing uncertainty, Spain has issued urgent warning, urging consumers to buy airline tickets as soon as possible as fares are expected to spike triggered by higher oil prices.

According to Spain’s industry and tourism minister, Industry and Tourism Minister Jordi Hereu, despite surging air travel fares, Spain is on track to sustain its impressive tourism growth trajectory following a record-breaking previous year.

After hosting 97 million international visitors, showing a 3.5 percent increase over 2024.

“What ​we're recommending is that people buy their tickets now because it's true that (airlines) are currently using kerosene that was purchased some time ago, ​and therefore there's an element of price fluctuations involved,” Hereu said.

"It's already clear that prices have risen and this could affect ‌demand," ⁠he said, adding that Spanish and European authorities were taking measures to deal with fuel shortages.

Since the beginning of the US-Iran conflict on February 28, the energy markets have been on edge, witnessing massive disruption in oil supply chains and a surge in oil prices by around 50 percent.

Skyrocketing oil prices have increased air travelling fares more than $100 on long-haul flights from Europe. Jet fuel prices, which make up around 25-30 percent of airlines’ costs, were up more than $2 a gallon as of earlier this month and remain elevated.