Airline warns ticket prices may rise later as global aviation fuel costs continue to climb

Uzbekistan Airways intends to limit the rise in air ticket prices despite the expected increase in fuel costs, a representative of the airline told Kursiv Uzbekistan.

The company purchases aviation fuel on the domestic market, and so far there have been no supply disruptions.

At the same time, the airline does not rule out that fares may be adjusted in the future, as fuel price dynamics are difficult to predict.

According to the International Air Transport Association, as of April 3, the average global price of aviation fuel reached $209 per barrel amid the Middle East conflict. For comparison, on March 6 the price stood at $157.

As of April 3, the average fuel price in Europe and CIS countries was $216, according to IATA data.

As noted by Travel and Tour World, aviation fuel remains the largest cost component for airlines. The sharp increase in prices is forcing carriers to reduce flights on some routes to save fuel and cut expenses.

Despite the announced ceasefire between Iran and the United States, oil prices are expected to rise for several months, even with the reopening of the Strait of Hormuz.

«We maintain a risk premium on oil prices throughout the forecast period, as we expect uncertainty over future supply disruptions to keep prices above pre-conflict levels,» the U.S. Energy Information Administration said in a statement.