The rising cost of fuel has been an issue of concern for the aviation industry throughout 2022, but air cargo carriers have tackled the challenge successfully. Expensive fuel is not a new phenomenon, however, a perfect storm of economic and political issues has seen prices continue to rise this year until they flattened out in early July, as per S&P Global data shared by IATA. In February, against a backdrop of strong demand for still limited capacity due to the pandemic, the Ukraine-Russia war forced airlines to fly longer routes to avoid Russia-Ukraine airspace and increase their fuel usage, and now inflation is rising around the world. The latest data from the joint Platts – IATA Jet Fuel Price Monitor shows the jet fuel price for the week ending July 15 was up 85.7 per cent compared with a year ago at $146.4/bbl. The jet fuel price average for 2022 at the time of writing (year to date) is US$ 143.6/bbl. The impact of jet fuel price developments on 2022’s industry total fuel bill is US$ 134.3 billion.