Air Fare Rise Looms As Middle East Tensions Push Jet Fuel Up By 53.1%

Amid escalating tensions in the Middle East involving the United States, Israel and Iran-pushing crude oil prices past the $100 per barrel mark-the price of Jet A1, also known as aviation fuel, has surged from between N940 and N980 per litre to about N1,500 and N1,600 per litre.
The increase, which represents about a 53.1 per cent rise, may trigger another round of airfare hikes on domestic routes in Nigeria.
LEADERSHIP gathered that a one-way ticket, currently averaging about N150,000, could rise to between N185,000 and N200,000 if the situation persists.
Aviation fuel remains the single largest cost component for airlines, accounting for about 30 to 35 per cent of total operational expenses. With the latest surge in prices, industry stakeholders say fuel costs could now rise to between 40 and 45 per cent of airlines’ operational expenditure.
Industry sources also indicated that the price of Jet A1 varies depending on the airport, supplier and the volume purchased by airlines from major oil marketers.
A source close to one of the airlines, who spoke on condition of anonymity on Tuesday, said the price of aviation fuel had remained highly unstable since the outbreak of the crisis on Saturday, February 28, 2025, changing about five times within the period.
According to the source, Jet A1 currently sells for about N1,500 per litre at the Murtala Muhammed Airport (MMA), Lagos; N1,600 per litre at the Nnamdi Azikiwe International Airport (NAIA), Abuja; and about N1,700 per litre and above at the Margaret Ekpo International Airport (MEIA), Calabar; the Port Harcourt International Airport (PHIA), Omagwa; and the Mallam Aminu Kano International Airport (MAKIA).
Other airports where the product is supplied include the Akanu Ibiam International Airport (AIIA), Enugu; Sam Mbakwe International Cargo Airport (SMICA), Owerri; Maiduguri International Airport (MIU); Sadiq Abubakar III International Airport, Sokoto; Asaba International Airport (SIA); and Anambra International Cargo Airport (AICA), among others.

Some of the major oil marketers supplying aviation fuel include MRS Oil Nigeria Plc, MAT Oil and Gas, CIT Oil and Gas, NNP Oil and Gas, Standard Oil and Gas (STN), and AGB Oil and Gas.

Commenting on the development, an aviation expert, Samuel Caulcrick, warned that the rising fuel price would inevitably lead to higher airfares.

According to him, the current rate indicates that fuel alone now accounts for about 45 per cent of airline operational costs, stressing that aviation fuel remains the highest single cost element in airline operations.

Another aviation expert, Charles Amokwu, also expressed concern over the development and its impact on the global aviation sector.

According to him, the cost of aviation fuel and other operational components largely determine airline ticket prices.

Amokwu explained that it takes between 3,500 and 4,000 litres of fuel for a Boeing 737 to fly from Lagos to Abuja, adding that it would cost an average of about N6 million to fill the aircraft’s tank for a flight lasting less than one hour.