Spain's industry and tourism minister has issued a warning to travelers to purchase airline tickets early, citing rising oil prices driven by geopolitical tensions involving Iran. The country, which welcomed a record 97 million tourists last year, is the world's second most visited destination after France and anticipates maintaining similar growth this year.
The minister, Jordi Hereu, emphasized that airlines are using kerosene purchased months ago, and spot price increases could lead to higher fares. "We recommend that people buy their tickets now because it's true that (airlines) are currently using kerosene that was purchased some time ago, and therefore there's an element of price fluctuations involved," he stated. He also confirmed that Spanish and European authorities are taking measures to prevent fuel shortages amid disruptions in global oil supply.
Since late February, rising oil prices have resulted in about a 50% surge in fuel costs, adding over $100 to the price of long-haul European flights. Campaign group Transport & Environment highlighted the potential impact on ticket prices due to increased fuel costs.
Spain boasts a larger stock of kerosene and higher production capacity than many other nations in the euro zone, the minister added. However, he cautioned that any issues faced by countries sending tourists to Spain could affect the country's tourism sector as well.
