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The Guardian Business · Apr 15, 2026 3:00 PM EDT EnergyGeopolitics

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 expensesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThanks 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…

This chart on oil prices shows why Qantas and Virgin are cutting flights and raising fares
Image The Guardian Business

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