When will airline ticket prices come down? What to expect if Iran war ceasefire holds, Strait of Hormuz remains open

Flight prices are highly dependent on oil and gas prices. Here’s what consumers need to know.

On the heels of a two-week ceasefire in the Iran war—which requires reopening the Strait of Hormuz, a critical oil passageway—benchmark U.S. crude oil prices sank to $94.98 a barrel on April 8, down 16%. That’s left many Americans wondering when fuel prices—and therefore airline ticket prices—might come down.