Treasury Secretary Scott Besant joins ‘Fox & Friends’ to discuss the gradual reopening of the Strait of Hormuz and unveils a new fraud prevention program to uncover scams in healthcare and other industries.
Citing rising jet fuel prices, JetBlue is raising baggage fees for economy passengers by $4-$9 global oil supply shortage Iran in the midst of war.
“As we experience rising operating costs, we regularly evaluate how to manage those costs while keeping base fares competitive and continuing to invest in our customers’ experience,” JetBlue wrote in a statement to Fox Business. “Adjusting fees for optional services used by select customers, such as checked baggage, allows us to continue offering more competitive fares while providing the onboard experience our customers prefer, including complimentary snacks and drinks, unlimited, high-speed Wi-Fi and seatback entertainment screens.”
The statement further said, “While we recognize that fee increases are never ideal, we take careful consideration to ensure that these changes are only implemented when necessary.”
For domestic, Caribbean and Latin America flights, the price of the first checked bag will now increase from $35 to $39 during off-peak travel and from $40 to $49 during peak periods. Passengers who pay less than 24 hours before departure will still face an additional $10 fee.
JetBlue has increased its checked bag fee for economy bookings to $9 amid a temporary rise in global fuel prices due to fuel shortages caused by the closure of the Strait of Hormuz. (Ryan Collard/Bloomberg via Getty Images/Getty Images)
Destroy the regime’s power without capturing Iran: A smart war plan
Bag fees are waived for passengers with eligible JetBlue co-branded credit cards or elite frequent flyer status.
When an airline raises fees, competitors often follow, but there have been no signs yet from American Airlines, United Airlines, Delta Airlines, Southwest Airlines or Frontier Airlines.
A spokesperson said, “Southwest has no immediate plans to raise fees due to macroeconomic factors.” told the New York Post.
Historically, when one airline takes action other airlines respond by increasing prices on baggage fees. (Kevin Carter/Getty/Getty Images)
Waltz says Trump is using Iran’s own oil strategy against himself to drive down global prices.
The move reflects broader pressure on airlines as fuel prices have risen globally following the US and Israeli attacks on Iran on February 28. Jet fuel prices in major U.S. markets averaged $4.62 a gallon Tuesday morning, 83% higher than the day before the fight began. Argus data published By airlines to America.
“The reality is that jet fuel prices have more than doubled in the last three weeks,” United CEO Scott Kirby wrote in a memo to employees in early March. “If prices remain at this level, it would mean an additional $11B in annual spend just for jet fuel. For perspective, in United’s best year ever, we made less than $5B. It may sound scary, but the first good news is that, at least for now, demand remains the strongest we’ve ever seen. The 10 biggest booked revenue weeks in our history have been the last 10 weeks.”
Treasury Secretary Scott Besant joins ‘Mornings with Maria’ to discuss the Iran war, rising oil prices, market volatility, Fed uncertainty, Powell’s future and the U.S. strategy to stabilize the global economy.
Trump asks for warships from other countries to secure the Strait of Hormuz
However, Kirby said, “It could be a challenge to continue passing through increased fuel prices if oil remains high for a longer period of time.”
chairman donald trumpKeeping his business eye on affordability amid the war, he appeared on Truth Social Tuesday morning to urge oil-needy countries globally to deal with their supply shortages.
“To all those countries who can’t get jet fuel because of the Strait of Hormuz, like the United Kingdom, which refused to join in the beheading of Iran, I have a suggestion for you: No. 1, buy from America, we have plenty of it, and No. 2, gather some late courage, go across the strait and take it,” Trump wrote on Truth Social. “You have to start learning how to fight for yourself, the United States will no longer be there to help you, just like you weren’t there for us. Iran has been essentially destroyed. The hard part is done. Go get your own oil!”
Trump warned that the US is ‘locked and loaded’ to destroy Iran’s ‘crown jewel’ if we want.
While this price of jet fuel is the highest of the year, with a steady upward trend since the beginning of the war, the Treasury Secretary Scott Besant told Fox News that the increase in fuel prices is temporary due to pressure on global fuel supplies.
It is linked to Iranian retaliation over blocking the Strait of Hormuz, the forced closure of which is pushing up global oil prices over fears of supply shortages.
About 20% of the world’s oil supply transits the Strait of Hormuz off the coast of Iran. The Iranian regime is threatening to attack any ship that crosses the strait without permission. (Fox/Fox News)
Supplying the world with more oil from Iran would eventually lower prices in the US, according to Besant, who said the US is not dependent on Middle East oil, but the blockage of the Strait of Hormuz has spooked crude oil futures markets.
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Besant said the US has refrained from attacking Iranian energy infrastructure even while escalating military operations, arguing that the goal is to preserve supplies while maintaining pressure on Tehran.
“We have a lot of levers,” Besant said. “We have a lot more we can do.”
