Treasury Secretary Scott Bessent joins ‘Fox & Friends’ to discuss the gradual reopening of the Strait of Hormuz and unveil a new anti-fraud program to expose fraud in health care and other industries.
JetBlue is raising baggage fees by $4–$9 for economy passengers, citing higher jet fuel prices due to global oil shortages amid the Iran war.
“As we face rising operating costs, we are constantly evaluating how to manage those costs while keeping our bottom line competitive and continuing to invest in what our customers value,” JetBlue wrote in a statement to FOX Business. “Adjusting fees for optional services used by select customers, such as checked baggage, allows us to continue to offer highly competitive fares while delivering the experiences our customers love, including snacks and beverages, unlimited, high-speed Wi-Fi and rear entertainment screens.”
“Although we realize that the increase in funds is not good at all, we are thinking carefully to ensure that these changes are made only when necessary,” the statement continued.
On domestic, Caribbean and Latin American flights, the first checked bag will now cost $39 during long-haul flights, up from $35, and $49 during peak periods, up from $40. Travelers who pay less than 24 hours before departure will still incur a $10 surcharge.
JetBlue has raised the cost of checked bags by up to $9 for economy bookings amid a temporary spike in global fuel prices due to shortages closing the Strait of Hormuz. (Ryan Collerd/Bloomberg via Getty Images/Getty Images)
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Passengers with qualifying JetBlue credit cards or frequent flyer status are always exempt from bag fees.
When an airline raises fees, competitors tend to follow, but there are no indications yet from American Airlines, United Airlines, Delta Air Lines, Southwest Airlines or Frontier Airlines.
Southwest “has no immediate plans to raise funds for economic reasons,” a New York Post spokeswoman said.
Historically, other airlines have tended to respond to price increases in baggage fees when a single airline operates. (Kevin Carter/Getty/Getty Images)
WALTZ SAYS TRUMP IS USING IRAN’S OIL STRATEGY TO LOWER WORLD PRICES.
The move reflects broader pressure on airlines as fuel prices rise around the world following the US and Israeli attacks on Iran that began in Feb. 28. Jet fuel in major US markets averaged $4.62 a liter on Tuesday morning, up 83% from the day before the war, according to Argus data published by Airlines for America.
“The truth is, jet fuel prices have more than doubled in the last three weeks,” United CEO Scott Kirby said in a letter to employees in early March. “If prices stay at this level, it could mean an additional $11B in annual jet fuel costs. In perspective, in United’s best year, we’ve made less than $5B. That may sound scary, but the first piece of good news is that, right now, demand remains the strongest we’ve ever seen. The 10 biggest revenue booked in our 10 weeks has been 10 weeks.”
Treasury Secretary Scott Bessent joins ‘Mornings with Maria’ to discuss the Iran war, rising oil prices, market volatility, Fed uncertainty, Powell’s future and the US strategy to stabilize the global economy.
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Kirby added, however, that “it may be a challenge to continue to pass on large amounts of fuel prices if oil remains high for a long time.”
President Donald Trump, with his business eye on wartime procurement, took to Truth Social on Tuesday morning to urge oil-hungry countries around the world to step up to deal with their shortages.
“All those countries that can’t get jet fuel because of the Strait of Hormuz, like the United Kingdom, which refused to get involved in the capture of Iran, I have a proposal for you: Number 1, buy from the US, we have a lot, and Number 2, build delayed courage, go to the Strait, and TAKE IT,” Trump wrote on Truth Social. “You must first learn to fight for yourself, the USA will no longer be there to help you, as you were not there for us. Iran is out of power. The hard part is over. Go get your own oil!”
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Although this fuel price is the highest of the year, with a rising line that has been rising since the start of the war, Treasury Secretary Scott Bessent told Fox News that the increase in fuel prices is temporary due to problems with the supply of fuel around the world.
It is tied to Iranian retaliation by choking the Strait of Hormuz, with the forced closure driving up global oil prices as supply shortages are expected.
About 20 percent of the world’s oil flows through the Strait of Hormuz off the coast of Iran. The Iranian Regime threatens to attack any ships that cross the ship without permission. (FOX / Fox News)
Supplying the world with more oil from Iran will eventually lower prices in America, according to Bessent, who noted that the US does not rely on Middle Eastern oil but the strangulation of the Strait of Hormuz has disrupted crude futures markets.
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Bessent said the US has refrained from striking Iran’s energy infrastructure while continuing military operations, saying the aim is to maintain supplies while pressuring Tehran.
“We have a lot of instruments,” Bessent said. “We have a lot to do.”
