Aviation fuel prices surged last week as the shipping blockade of the Strait of Hormuz continued.
According to the Jet Fuel Price Monitor, the global average jet fuel price rose 7.1% from the previous week to $160.06/bbl, while the global average aviation fuel price for the week ending July 17 rose 17.6% week-on-week to $149.40/bbl.
Amid these market shifts, the Sultanate of Oman recorded a 9.2% surge in aviation fuel production and a 20.9% increase in exports during the first six months of 2026.
For comparison, aviation fuel prices stood at $127.06/bbl for the week ending July 10, $119.13 for the week ending July 3, and $116.63 for the week ending June 26.
On a year-to-year basis, jet fuel prices have surged by 77.8% since 2025. The sharpest regional price increases occurred in Europe and the CIS (8.7%), followed by the Middle East (8.4%), Africa (8.3%), Asia and Oceania (7.5%), and North America (5.6%).
Concurrently, Middle East carriers experienced a 14% year-on-year decline in demand and an 11% reduction in capacity, resulting in a load factor of 76.3% (down 2.6 percentage points compared to June 2025).
Although the impacts of the war with Iran continue to severely depress year-on-year traffic comparisons, the monthly rate of decline has halved since April.
While Middle Eastern aviation performance shows signs of improvement, renewed regional tensions threaten recovery, and the knock-on effect of rising fuel costs will continue to burden travelers with higher airfares.
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