# and Israel launched strikes on Iran on February 28, jet fuel prices have more than doubled.

*business · news · 2026-04-06 · Investing.com*

## Key points

- U.S. jet fuel prices have risen over 120% since the February 28 U.S.-Israel strikes on Iran.
- The closure of the Strait of Hormuz is a key driver of the current jet fuel price spike.
- U.S. crude oil production is projected to hit a record 13.6 million barrels per day in 2025.
- Most major U.S. airlines have abandoned fuel hedging, unlike European carriers with strong hedging positions.
- Despite fare increases, global passenger air travel demand grew 6.1% year-over-year in February.

**Countries:** United States, Iran, China, United Kingdom, Kuwait, Hong Kong, Thailand, Philippines, Vietnam

[Read the full story on Investing.com](https://www.investing.com/analysis/why-us-airlines-are-better-positioned-for-this-oil-shock-than-the-market-believes-200677934)

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