Flight prices are highly dependent on oil and gas prices. Here’s what consumers need to know.
On the heels of a two-week ceasefire in the Iran war—which requires reopening the Strait of Hormuz, a critical oil passageway—benchmark U.S. crude oil prices sank to $94.98 a barrel on April 8, down 16%. That’s left many Americans wondering when fuel prices—and therefore airline ticket prices—might come down.
