Spain Minister Urges Early Summer Ticket Buys

Spain's Minister of Industry and Tourism Jordi Hereu urged travelers on April 27 to purchase summer airline tickets immediately to avoid impending fare increases driven by surging jet fuel costs linked to the U.S. and Israeli attacks on Iran that began February 28.

In an interview, Hereu explained that airlines are currently using previously purchased kerosene, creating a lag before full price impacts hit consumers. "What we're recommending is that people buy their tickets now because it's true that airlines are currently using kerosene that was purchased some time ago, and therefore there's an element of price fluctuations involved," he said. "It's already clear that prices have risen and this could affect demand." He noted that Spanish and European authorities are implementing measures to avert fuel shortages, and Spain benefits from larger kerosene reserves and production capacity compared to some peers. However, he cautioned, "If the countries that send tourists to Spain had problems, we would have them too."

The conflict has disrupted global oil supplies, pushing prices up around 50 percent. Jet fuel costs have more than doubled in recent weeks, rising from about $63 to...