US airfares expected to stay high even if Iran ceasefire drops oil prices, experts say

US airfares expected to stay high even if Iran ceasefire drops oil prices, experts say

US domestic airfares are currently 26.5% higher than the previous year, with global prices up 25-30% compared with 2025, according to recent consumer price index data. Jet fuel prices have surged 65% since the start of 2026, trading around $149 per barrel as of early August, up from $90 at year’s beginning. Analysts attribute the spike to strong travel demand and reduced global oil refining capacity during the early stages of the Iranian conflic…