MONTREAL — Statistics Canada says airfares rose year-over-year for the primary time in practically two years in March amid sky-high jet gas costs.
Company knowledge exhibits that airplane ticket costs rose 2.9 per cent final month in contrast with March 2025.
Nationwide Financial institution analyst Cameron Doerksen notes that the final time the patron worth index notched a year-over-year enhance for air journey was June 2024.
Doerksen says ballooning jet gas costs is driving the current fare surge, with airways passing on a number of the value to passengers.
On a month-to-month foundation, fares rose practically 5 per cent.
The U.S.-Israeli warfare on Iran launched in late February prompted an efficient shutdown of the Strait of Hormuz, which usually carries a couple of fifth of the world’s crude oil, prompting large spikes in power costs.
This report by The Canadian Press was first revealed April 20, 2026.
Christopher Reynolds, The Canadian Press