Asia Airlines Scramble as Jet Fuel Prices Soar to $195 per Barrel

A crisis has hit the aviation industry in Asia as jet fuel prices have doubled to $195 per barrel, causing airlines across the region to face a massive surge in operating costs.

The Strait of Hormuz, which accounts for nearly 20 percent of the world's crude oil flow, became a war zone amid the Iran conflict, sending shockwaves through global fuel markets.

Airlines from Vietnam to New Zealand have begun announcing fuel surcharges, route cancellations, and fare increases in response to the price spike, with some carriers cutting service and others rationing exports.

The crisis is expected to last for months, with the International Energy Agency's chief describing it as 'the greatest global energy security challenge in history.'