Aviation fuel prices that dropped in June and July following the announcement of interim peace deal between Iran and the United States are scaling back to the post February 28, 2026 levels, when it nearly touched $200 per barrel.
The surge follows the breakdown of the deal and the continuing shipping blockade of the Strait of Hormuz continued, which is likely to major impact on airfares in major oil importing countries.
According to the Jet Fuel Price Monitor, the global average aviation fuel price rose 9% from the previous week to $171.01/bbl for the week ending September 4, 2026.
The aviation fuel prices for the week ending August 28 was $156.86/bbl, $163.87/bbl for the week ending August 21, $158.9/bbl for the week ending August 14, and $146.93/bbl for the week ending August 7.
The Aviation fuel price is the lowest in the Middle East at $154.73 and the highest in Europe at $180.22.
The aviation fuel prices dropped 4.3% in the week ending August 28 from the previous week and dropped 7.5% in the week ending August 7.
Amid these market shifts, the Sultanate of Oman recorded a 12.2% surge in aviation fuel production and a 27.4% increase in exports during the first six months of 2026.
On a year-to-year basis, jet fuel prices have surged by 90% since 2025. The sharpest regional price increases occurred in Europe and the CIS (97.8%), followed by the Middle East (84.5%), Africa (100.9%), Asia and Oceania (81.9%), and North America (88.9%).
Middle Eastern carriers saw a 9.5% year-on-year decrease in demand. Capacity fell 5.8% and the load factor was 80.9%.
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