SINGAPORE—Global jet fuel prices have surged to near 14-year highs in line with crude oil’s surge on supply shortfall worries, slamming air carriers and travellers with steep cost increases just as air travel was starting to recover from COVID-19 restrictions.
Oil prices have soared to their highest since 2008 as supplies lag recovering global demand and as the U.S. weighs banning Russian oil imports following Moscow’s invasion of Ukraine.
