Some major passenger carriers are being forced to trim their flying schedules due to the uptick in jet fuel prices, which have been driving by an increase in oil prices.
People check in at Alaska Airlines ticketing kiosks at Seattle-Tacoma International Airport before the Thanksgiving holiday in Seattle, Washington, U.S.
Spot prices for Gulf Coast jet fuel have doubled in the past 14 months and risen one-third just since the start of this year. Since fuel can amount to one-third of aAlaska Airlines said in a regulatory filing Tuesday that fuel prices have been volatile "as a result of the conflict in Europe and Russia's ongoing invasion of Ukraine." The carrier estimated that fuel will cost between $2.60 to $2.65 per gallon for the first quarter, surpassing its earlier projection of $2.45 to $2.
As a result of the "sharp rise," the carrier said it "slightly moderated our capacity outlook for the year." Alaska expects to cut down on its flights between 3% and 5% in the first half of 2022. Travelers walk through in Salt Lake City International Airport, Tuesday, March 9, 2021, in Salt Lake City.
"We continue to plan for a return to 100% of pre-COVID capacity by summer followed by growth in the second half of the year, and will continue to prudently adjust capacity as necessary in response to the evolving fuel environment," the company said in the filing.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
World Bank official says war-driven oil price hikes to slash growth for big importersPersistent high oil prices prompted by Russia's invasion of Ukraine could cut a full percentage point off the growth off large oil-importing developing economies like China, Indonesia, South Africa and Turkey, a World Bank official said on Tuesday.
Les mer »
Sask. to continue to collect provincial fuel tax despite rising pricesWith rising gas prices, the Sask. NDP wants the province to create a program like Alberta that has stop collecting provincial fuel taxes.
Les mer »
Food prices could rise another 15% by April, Gristedes owner warnsThe billionaire owner of a New York grocery store chain warns that rising oil prices could mean another sharp rise in food costs.
Les mer »
U.S. gasoline prices rise again on talk of banning Russian oilGasoline prices are pushing even farther above $4 a gallon, the highest price that American motorists have faced since July 2008, as calls grow to ban imports of Russian oil.
Les mer »
Rising oil prices, possible Russian embargo drive US outreach to VenezuelaPowerful Democrats and Republicans alike on Capitol Hill last week began voicing support for a U.S. ban on Russian oil and natural gas imports as the next step to punish Putin over the invasion.
Les mer »
Rising oil prices could affect thousands of productsAbout 60% of global oil consumption comes in the form of fuel. The other 40% can be found in everything from mascara to medical devices.
Les mer »