Jet fuel prices soar as airlines warn supplies could run dry within weeks

This material may not be published, broadcast, rewritten, or redistributed. ©2026 FOX News Network, LLC. All rights reserved. Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset. Powered and implemented by FactSet Digital Solutions. Legal Statement. Mutual Fund and ETF data provided by LSEG. FOX Business senior correspondent Charlie Gasparino discusses minimal shipping crossings through the Strait of Hormuz amid conflict in the Middle East on ‘The Will Cain Show.’ Jet fuel prices in the U.S. have more than doubled in a matter of weeks as Middle East tensions squeeze supply, fueling concerns airlines could run short of fuel. Prices jumped from about $2.17 to $4.56 per gallon by March 20, according to the Argus U.S. Jet Fuel Index. Airlines warn inventories could run dry within weeks, raising the risk of higher airfares and flight cancellations. Airlines are already adjusting. United Airlines CEO Scott Kirby said the carrier will cut about 5% of planned flights in the near term as fuel costs surge, warning that if prices persist, jet fuel alone could add $11 billion in annual expenses. OIL, GAS PRICES JUMP AS TRUMP FLIRTS WITH STRIKING IRA