JetBlue Says Jet Fuel Will Get Even More Expensive As Iran War Continues

JetBlue hiked its second-quarter forecast for jet fuel prices on Monday amid the Strait of Hormuz’ continued closure, Reuters reported.

The airline’s June 1 Securities and Exchange Commission (SEC) filing notes that fuel prices are expected to increase from a low of $4.13 to $4.26 per gallon, peaking at $4.36. JetBlue tied the increased estimate to Brent crude fluctuations.

JetBlue did not immediately respond to a request for comment.

“Although rising in-quarter Brent prices are driving a slightly higher second quarter fuel price versus our previous guidance, we now expect to recapture 40% or more of increased fuel costs in the quarter,” the filing reads.

JetBlue has recaptured fuel costs by increasing airfares and baggage fees, according to CNBC. Jet fuel is the airline’s second-largest expenditure after labor.

Jet fuel cost roughly $90 per barrel prior to Operation Epic Fury, according to the International Air Transport Association. A barrel now costs roughly $142.

Jet fuel closely follows elevated Brent crude prices, which have fluctuated between $90 and $126 per barrel since Operation Epic Fury began in late February 2026. Brent crude sat at roughly $97 per barrel as of June 1, according to Business Insider.

“Demand for travel in the second quarter has remained strong and consistent with trends observed earlier in the year, with healthy demand across the booking curve,” JetBlue’s SEC filing reads. “Notably, routes previously operated by Spirit have demonstrated outperformance following Spirit’s shutdown. Although it remains early in the third quarter booking curve, we are encouraged current trends may carry-forward.”

Spirit Airlines shut down in early May after increased oil prices following the conflict in Iran rendered further operations untenable. A federal judge blocked JetBlue’s proposed $3.8 billion deal to acquire Spirit in January 2024 after the Biden administration sued over antitrust concerns. The companies abandoned the acquisition in March.