U.S. Consumer Prices and Inflation

U.S. airlines are cutting flights and passing soaring fuel costs to passengers after jet fuel prices more than doubled — Argus’s U.S. Jet Fuel Index rose from about $2.17 to $4.57/gal while Brent crude jumped from roughly $70 pre‑war to above $110 — prompting United to trim about 5% of planned flights, carriers to raise fares 15–20% and add surcharges, and JetBlue to lift checked‑bag fees. The spike stems from an effective closure of the Strait of Hormuz and damage to regional energy infrastructure that has disrupted supplies, leading the U.S. to temporarily ease enforcement on some Iranian oil and tap emergency reserves even as analysts warn of prolonged inflationary and supply‑chain fallout.