US Airlines Absorb $1.1B Q1 Fuel Cost Surge as Jet Prices Soar After Iran War

Surging jet fuel and crude prices from the Iran war have hammered US airlines, with Delta, United, American, and Southwest reporting over $1.1 billion in combined Q1 fuel cost increases versus last year. Jet fuel doubled from nearly $100/barrel late 2025 to above $200/barrel amid supply disruptions and Strait of Hormuz constraints, prompting United to hike summer fares 15-20%, cut capacity, and raise fees while recapturing 40-50% of costs. Brent crude hit $107/barrel, up 41% since late February, with carriers forecasting billions more in expenses and warning of demand risks if prices stay high.