SCANDINAVIAN airline SAS said Tuesday that it was introducing a “temporary” price increase due to soaring oil prices triggered by the war in the Middle East.
“In recent days, jet fuel prices in Europe have risen sharply — reaching their highest levels since 2022 — largely driven by disruptions to global supply,” the company said in a statement to AFP, adding the development had “an immediate impact on airlines’ cost base”.
“Given the unusually rapid and substantial increase, SAS has introduced… temporary fuel-related price adjustments,” SAS said.
Oil prices have risen dramatically in recent days amid supply woes from Gulf countries, due to the near-paralysis of the Strait of Hormuz caused by the war in the Middle East.
However, oil prices sank markedly Tuesday morning after US President Donald Trump said the US-Israel war on Iran could end “very soon”.
SAS stressed that fluctuations in the price of oil had “a direct impact on the cost of jet fuel, which is one of the largest cost components for airlines”.
AFP
#GlobalNewLightOfMyanmar