It's a crucial passage way for one-fifth of the world's oil supply, and its shutdown has caused oil prices and, therefore, jet fuel costs to spike. Durakovic explained that airlines adjust fares based on several factors, including fuel costs, demand, and competition on specific routes. Airlines share statements about the price of flightsAir Transat was the first Canadian airline to respond to skyrocketing jet fuel prices. In recent days, fuel prices have continued to rise, and fares have adjusted accordingly," stated WestJet spokesperson Julia Kaiser. According to Google Flights, prices for a one-way ticket from Vancouver to Toronto in May are currently high.