There it is. The US Department of Transportation says US airlines' fuel costs surged +78% in April amid the Iran War. US airlines paid a total of $6.5 BILLION in fuel costs in April 2025. This explains why airline fares rose +20.7% year-over-year in the April CPI inflation data. Globally, airlines are now facing an estimated $100 billion in additional fuel costs for 2026 alone amid the Iran War disruption. Traveling has never been more expensive.(The Kobeissi Letter)