The Sultanate of Oman saw a 12% increase in the production of aviation fuel in the seven months to 16,788,400 barrels from 14,998,200 barrels during the same period in 2025.
The exports of aviation fuel however, jumped by 27.4% to 14,516,8 in the seven months of 2026 to 11,390,700 during the same period in 2025, as per the National Centre for Statistics and Information (NCSI).
The domestic sales of aviation fuel dropped by 9.2 percent to 2,567,600 barrels from 2,827,400 in 2025.
According to International Air Transport Association (IATA), fuel costs are expected to rise by nearly 40% from $252 billion in 2025 to $350 billion in 2026.
This is based on an expected average price of crude oil at $95/barrel (Brent) for the year (up 37% from $69 in 2025). Jet fuel prices are expected to average $152/barrel for the year (up almost 70% on $90 in 2025).
The crack spread (premium for jet fuel over Brent crude oil) is expected to average $57/barrel, an historic high.
Globally, airlines have hedged roughly one third of their expected fuel consumption for 2026, which helps smooth short-term cost volatility but does not eliminate exposure to sustained price increases.
Furthermore, many airlines hedge against movement in crude oil prices, as this market is more liquid, which leaves them exposed to increases in the crack spread, according to IATA.
Total fuel consumption in 2026 is expected to remain unchanged from 2025, at 104 billion gallons. The rise in the price of jet fuel is therefore solely responsible for lifting the share of jet fuel in total operating expenses to 31.4% in 2026, up from 25.4% in 2025.
Aviation fuel prices has surged as the shipping blockade of the Strait of Hormuz continued and the hopes of an immediate peace deal faded.
According to the Jet Fuel Price Monitor, the global average jet fuel price rose 8.2% from the previous week to $159.08/bbl for the week ending August 14, 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.
The Aviation fuel price is the lowest in the Middle East at $148.7 and the highest in Latin America and the Carribean at $165.02.
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.
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