ADVERTISEMENTThe U.S.-Israeli war on Iran has sent oil prices surging, upending global travel and sparking fears of a deep travel slump and the potential for the widespread grounding of planes. As oil prices soar, Vietnam Airlines has asked local authorities to remove an environmental tax on jet fuel to help it maintain operations. The Southeast Asian nation's government said Vietnamese airlines' operating costs have risen 60% to 70% due to the rise in jet fuel prices and fuel suppliers were facing difficulties in meeting airline demand. Some major Asian and European airlines have oil hedging in place, but U.S. airlines largely stopped the practice over the last two decades. High oil prices and airspace closures due to the war are pushing airline tickets on some routes sky-high and forcing people to reconsider travel plans.

Source: The Telegraph March 10, 2026 04:34 UTC