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On the heels of a\u00a0two-week ceasefire\u00a0in the Iran war\u2014which requires reopening the\u00a0Strait of Hormuz, a critical oil passageway\u2014benchmark U.S. crude oil prices sank to $94.98 a barrel<\/a> on April 8, down 16%. That\u2019s left many Americans wondering when fuel prices\u2014and therefore airline ticket prices\u2014might come down.<\/p>\n<\/div>\n The answer: probably not anytime soon.<\/p>\n First, let\u2019s take a look at gas prices. On Wednesday, the day after the ceasefire was announced, gas prices went up<\/em> 2 cents, not down, hitting an average of\u00a0$4.16<\/a>\u00a0a gallon nationwide.<\/p>\n Why aren\u2019t we seeing prices fall? There are a few reasons. For one, reopening the Strait of Hormuz is only the first of perhaps many steps needed to getting oil flowing<\/a> out of the Middle East, which could take days or weeks, according to regional oil executives who spoke with The New York Times<\/em>. They noted a full recovery could take months.<\/p>\n<\/div>\n Then, there is the issue of damage to the region\u2019s oil and gas infrastructure from U.S. and Israeli air strikes in Iran and Iran\u2019s retaliatory strikes on the United Arab Emirates and a number of other oil-producing nations. That could also take time to repair.<\/p>\n Turning to the airline industry: The conflict has sent jet fuel prices skyrocketing<\/a>, sticking airlines with unwanted added costs, according to The Washington Post. <\/em>Jet fuel prices<\/a> hit $195 a barrel at the end of March<\/a>, up nearly $100 from the beginning of the war. Those prices aren\u2019t expected to change anytime soon, and remain hovering at $4.81 a gallon, according to\u00a0Airlines for America\u2019s Argus U.S. Jet Fuel Index<\/a>.<\/p>\n It begs the question: How are airlines dealing with those additional costs? <\/p>\n<\/div>\n