The conflict in the Middle East is sending oil prices skyrocketing.
Published Mar. 12 2026 12:16PM EDT
Airlines have announced that they are raising their ticket prices or canceling flights as a direct result of President Donald Trump’s war in Iran. At least three airlines have said they are being forced to make changes because of the oil crisis triggered by the conflict in the Middle East and attacks on tankers in the Strait of Hormuz. Thai Airways said it is raising ticket prices by about 10 to 15 percent due to “overwhelming” demand and rising fuel costs, and warned that journeys on its normal European routes and other destinations will be “extremely limited” for the foreseeable future. Hong Kong aviation giant Cathay Pacific said it will increase fuel surcharges for travelers as fuel costs have nearly doubled since the war broke out. Air New Zealand has also announced it will need to raise prices, with the Kiwi airline’s CEO, Nikhil Ravishankar, confirming that it will cancel about 1,100 flights until May 6, affecting about 44,000 passengers. “It’s an unprecedented issue as far as fuel price is concerned, but managing fuel spikes is a well-trodden path if you’re running an airline,” Ravishankar told Radio New Zealand.
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