Gulf airlines see jet fuel price climb 3% in one week

Jet fuel costs being borne by Middle East airlines jumped by almost 3 per cent in just one week, and are up over 11 per cent on last year’s prices.

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Jet fuel costs being borne by Middle East airlines jumped by almost 3 per cent in just one week, and are up over 11 per cent on last year’s prices, according to the aviation industry’s fuel watchdog.

The latest figures from the International Air Transport Association’s (IATA) jet fuel price monitor show that for the week ending February 10, the cost of jet fuel rose worldwide to $133.9 per barrel, from $130.59 the previous week.

The rises immediately preceded Emirates Airline's decision on Tuesday to impose fuel surcharges of up Dh610 per ticket on all its flights from tomorrow.

According to the IATA monitor, the recent rises will add $33bn a year to the world airlines’ fuel bills in 2012, taking it to an estimated $129.7bn a year.

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