This chart on oil prices shows why Qantas and Virgin are cutting flights and raising fares

Price of jet fuel has climbed by 125% since start of Iran war – giving Qantas and Virgin a big challenge as fuel accounts for a fifth of expenses Get our breaking news email , free app or daily news podcast Thanks to the US-Israel war on Iran , filling up your car with petrol costs about 40% more than it did in February, and for diesel vehicles it’s closer to 80%. But even those painful increases pale in comparison to the extraordinary rise in the price of jet fuel, which has climbed by a 125% since the start of the Middle East conflict. Continue reading...

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