"Buy plane tickets now!" - Spanish minister: Higher fuel costs threaten to increase prices
Travelers should buy plane tickets as soon as possible to avoid the risk of higher prices caused by the rise in oil prices as a result of the war in Iran, said Spain's Minister of Industry and Tourism, Jordi Hereu.
After welcoming a record 97 million tourists last year, 3.5% more than in 2024, Spain could maintain a similar growth rate this year, the minister added. However, higher fuel costs threaten to push up airfares and reduce demand, he warned.
"What we are recommending is that people buy their tickets now because airlines are currently using fuel that was purchased a long time ago and therefore there is an element of price fluctuations," Hereu said.
"It is already clear that prices have increased and this could affect demand," he said, adding that Spanish and European authorities were taking measures to prevent fuel shortages.
The disruption of global oil supplies has pushed up prices by about 50% since the US and Israel launched strikes on Iran on February 28. The rise in oil prices has added more than $100 to the price of long-haul flights from Europe, a cost that could drive up ticket prices, the Transport & Environment group said last week.
Hereu said that Spain, the eurozone's fourth-largest economy, had a larger fuel stock and higher production capacity than other countries.
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