{
  "id": 3538582,
  "title": "Middle East maintains lowest global jet fuel price despite 80% annual rise: IATA",
  "url": "https://urgent.news/2026/08/25/middle-east-maintains-lowest-global-jet-fuel-price-despite-80-annual",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-25T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/731943/business/middle-east-maintains-lowest-global-jet-fuel-price-despite-80-annual-rise-iata"
  },
  "original_language": "en",
  "account": "The Middle East continues to maintain the lowest global jet fuel price, despite an 80% annual increase, according to data from the International Air Transport Association (IATA). The region's average weekly jet fuel price for the week ending August 21, 2026, was $151.62 per barrel, keeping it as the cheapest market for aviation fuel worldwide. In contrast, global average prices reached $163.87, driven by higher costs in Latin America, Europe, North America, and Asia & Oceania. The Middle East holds a 5% share in the global jet fuel index, while North America and Europe account for 39% and 28%, respectively. However, the localized advantage does not fully alleviate broader inflationary pressures, as regional prices rose 80.8% compared to the previous year's average. This surge mirrors a steep global trend, with total jet fuel prices up 82.0% year-on-year, largely due to a 34.5% year-on-year increase in Dated Brent crude oil prices. The widening gap between crude oil and aviation fuel is attributed to a sharp rise in refining margins, with the global crack spread increasing 237.1% year-on-year to $70.92 per barrel. In its Global Outlook for Air Transport, IATA predicts that total industry fuel expenses will reach $351 billion in 2026, accounting for 31.4% of operating costs. While commercial demand remains stable, IATA notes that global net profit margins are projected to decline to 2.0%, resulting in a net profit of only $4.50 per departing passenger.",
  "summary": "Middle East airlines continue to enjoy a distinct operational edge in jet fuel costs over global competitors, even as soaring global refinery margins push regional expenditures to historical highs, a...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}