Flights could soon become noticeably more expensive, with a sharp spike in oil prices linked to the conflict in Iran driving aviation fuel costs dramatically higher, causing some airlines to increase ticket prices. Brent crude briefly surged to $119.50 a barrel earlier this week—about 30% higher than the previous day—before easing back to around $92. But the impact on aviation fuel has been even more dramatic. According to the International Air Transport Association (IATA), the global average price of jet fuel jumped 58.4% week-on-week to $157.41 a barrel, far above the $88 average the industry had expected for 2026. Part of the surge is being driven by disruption to oil flows through the Strait of Hormuz, one of the world’s most critical energy chokepoints that sits between Oman and Iran. As IATA recently noted in a market update, the waterway—which typically carries around 20% of global oil supply—has become severely constrained as tanker traffic has collapsed.…