Oil spikes are pushing airlines to hike ticket prices. These carriers have already raised fares or canceled flights.

"Passengers planning to travel should secure their tickets as soon as possible before fares rise further. Over the next two weeks, tickets will be extremely limited across both European routes and other destinations."

"In March, like ever since the Middle East episode began, the costs of our fuel already doubled. So we are going to a [price increase]."

"Rising fuel costs and increased demand for direct flights are driving up ticket prices. The Gulf itself was one of the busiest air corridors in the world before traffic was forced to re-route when the first strikes were launched in late February."

Airline ticket prices are rising significantly due to multiple interconnected factors. Geopolitical tensions in Iran have caused oil price volatility, with Brent crude reaching $97 per barrel, up 60% since the year's start. Attacks on tankers in the Strait of Hormuz have disrupted fuel supplies. Flight routes through the Gulf, previously major air corridors connecting Europe and Asia, have been forced to reroute, increasing demand for direct flights between these regions. This combination of higher fuel costs and reduced capacity is prompting airlines to raise fares. Thai Airways announced 10-15% price increases, while Cathay Pacific reported fuel costs doubling in March compared to previous months.

Read at Business Insider