The price of Jet A1, also known as aviation fuel, has jumped sharply following rising tensions in the Middle East involving the United States, Israel, and Iran.

The conflict has pushed global crude oil prices above $100 per barrel, causing aviation fuel prices in Nigeria to climb from about N940–N980 per litre to between N1,500 and N1,600 per litre.

Legit.ng earlier reported how the latest crude oil price increase has already impacted petrol prices and transportation fares in Nigeria.

The increase represents about a 53% jump and may soon lead to another rise in domestic airfares across the country. According to Leadership, industry sources say a one-way flight ticket, which currently costs around N150,000 on average, could increase to between N185,000 and N200,000 if the situation continues.

Fuel costs put pressure on airlines

Aviation fuel is the largest expense for airlines, typically accounting for about 30% to 35% of their operating costs.

However, with the latest surge in prices, experts say fuel could now account for as much as 40% to 45% of airline expenses.

Industry insiders also noted that the price of Jet A1 varies by airport, supplier, and purchase quantity.

A source within one of the airlines, who spoke anonymously, said aviation fuel prices have been very unstable since the crisis began on February 28, 2025, changing several times within a short period.

Current estimates show that Jet A1 sells for about N1,500 per litre at the Murtala Muhammed Airport in Lagos and around N1,600 per litre at the Nnamdi Azikiwe International Airport in Abuja.

Prices are even higher at other airports such as Calabar, Port Harcourt, and Kano, where the fuel can cost about N1,700 per litre or more. The fuel is supplied at several airports nationwide, including Enugu, Owerri, Maiduguri, Sokoto, Asaba, and Anambra.

Major suppliers of aviation fuel include MRS Oil Nigeria Plc, MAT Oil and Gas, CIT Oil and Gas, NNP Oil and Gas, Standard Oil and Gas, and AGB Oil and Gas. Aviation expert Samuel Caulcrick told Leadership that the increase in fuel prices will likely force airlines to raise ticket prices, as fuel now accounts for nearly half of their operating costs.

Another expert, Charles Amokwu, explained that aviation fuel prices strongly influence airline ticket costs.

He noted that a Boeing 737 aircraft typically requires between 3,500 and 4,000 litres of fuel to fly from Lagos to Abuja, meaning it can cost about N6 million to fuel the plane for a flight that lasts less than one hour.