BREAKING: Jet fuel prices in the US surge to $4.35/gallon, now up +61% over the last 10 weeks. Over the last week alone, jet fuel prices have risen by +10% as US oil prices continue to push above $100/barrel. As a result, US airline fares jumped +23% year-over-year in August, with much of the recent crude oil rally not yet reflected in the data. We could see a +30% surge in airline fares in September CPI.