Price of Jet A1, otherwise known as aviation fuel, has skyrocketed to N1,500 and N1,600 per litre, from N940 and N980 per litre, less than two weeks ago, indicating about 63 per cent rise.

The current rate is not unconnected with the ongoing war between Israel/U.S. and Iran.

With this, there are strong indications that airfares may rise by about 25 per cent or more in the local market, from the average N150,000 to N185,000 or N200,000 per ticket.

Aviation fuel remains the single highest component of airline operations, accounting for about 30 to 35 per cent of total operational costs.

But with the current prices of the product, The Guardian gathered that the effect of aviation fuel on operations might further rise to between 40 and 45 per cent.

Also, it was gathered that the current prices of the product might depend on the airport and airline from which a carrier is buying, as well as the number of gallons a carrier is purchasing from major oil marketers.

A source close to one of the airlines, who didn’t want his name in print, told The Guardian that the price of the product had remained unstable since the outbreak of the ongoing crisis on Saturday, February 28, 2025, to date, changing about five times within the period.

According to the source a litre of aviation goes for 1,500 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 and more at the Margaret Ekpo International Airport (MEIA), Calabar, Port Harcourt International Airport (PHIA), Omegwa and Mallam Aminu Kano International Airport (MAKIA).

Ohers are Akanu Ibiam International Airport (AIIA), Enugu, Sam Mbakwe International Cargo Airport (SMICA), Owerri, Maiduguri International Airport (MIU) and Sadiq Abubakar III International Airport, Sokoto, Asaba International Airport (SIA) and Anambra International Cargo Airport (AICA), among others.

Some of the major oil marketers in the industry are 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 issue, an aviation expert, Samuel Caulcrick, feared that the current rates would lead to an increase in air tickets.

According to him, the current rates indicated about 45 per cent operational costs on the airlines, stressing that fuel remains the highest single component of airline operations.

Another aviation expert, Charles Amokwu, regretted the current situation and effects on the global aviation sector.

According to him, the prices of the product and other components largely determine airfares.

Amokwu explained that it takes between 3,500 to 4,000 litres to fill the tank of a Boeing 737 from Lagos to Abuja for instance, saying that it would cost an average of N6 million to fill the tank for a less than an hour flight.