Global jet fuel prices have more than doubled over the past year, reaching an average of over $190 per barrel as of early October 2026, according to data from the International Air Transport Association (IATA). The sharp increase is placing significant financial pressure on airlines worldwide, prompting concerns about rising operating costs and the potential for higher airfares.

The worldwide average jet fuel price stood at $190.18 per barrel in the week ending October 9, marking a 111.2 percent increase compared to the same period in 2025. This represented a 1.5 percent rise from the previous week and a 3.1 percent increase relative to the monthly average. The steep upward trend persisted despite some fluctuations in late September.

IATA’s monitoring showed jet fuel prices experienced volatility through September and early October. Prices began at $181.46 per barrel in the week ending September 11, then surged 7.4 percent to $194.90 the following week. They subsequently fell by nearly 5 percent by September 25 but rebounded, climbing again past $190 per barrel in early October. Over the month-long period from September 11 to October 9, prices rose roughly 4.8 percent.

Significant regional disparities continue to characterize the jet fuel market. The highest prices were recorded in Europe and the Commonwealth of Independent States (CIS), where the average reached $202.61 per barrel in early October. This represented increases of 3.4 percent weekly, 3.5 percent monthly, and an annual rise exceeding 120 percent. Africa’s price average was $196.54 per barrel, showing similar upward trends.

North America and Latin America also saw substantial increases, with averages of $192.64 and $188.78 per barrel respectively. While Latin America’s prices dipped modestly week-over-week, they remained well above the levels from a year ago. The Asia-Pacific region averaged $175.44 per barrel, followed by the Middle East, which reported the lowest average price at $165.01 per barrel. The Middle East’s prices declined slightly over the week and month but were nearly double those recorded a year prior.

Industry representatives highlighted the strain imposed by these rising fuel costs. Ali Al Naqbi, chairman and chief executive of the Middle East and North Africa Business Aviation Association (MEBAA), identified soaring jet fuel prices as a major challenge confronting the aviation sector. As fuel constitutes one of the largest operating expenses for airlines, continued price increases are expected to squeeze profit margins and could lead to increased ticket prices for passengers globally.