Balgarianovinite.com
Energy expert Bob McNally told CNN Saturday that the high cost of jet fuel caused by the Iran war was the final nail in the coffin for Spirit Airlines, despite Trump Transportation Secretary Sean Duffy’s insistence that the war was not to blame.
McNally served as White House energy advisor to former President George W. Bush, and called the surge in energy prices “a real gut punch for the airlines.”
“In a way, of all the refined products — gasoline, diesel, fuel, oil — jet fuel was the hardest hit,” McNally said. “It’s the one that we tend to keep in lowest inventory at these airports, and especially Europe depends a lot on imports, Asia and so forth. And so it’s the fuel that ran out the fastest and for which the price jumped the fastest.”
“We’re seeing, airlines cancel flights, what we call demand reduction,” McNally said. “They’re just canceling unprofitable flights, even the ones that are still in operation. So the trauma is biggest in the airline sector, and Spirit is perhaps one one manifestation of that.”
On Saturday, Duffy argued that Spirit Airlines had been in “dire straits” from before the war began.
“Their model wasn’t working. They couldn’t get to fiscal health,” Duffy said. “So this was not the impetus. The war was not the impetus for Spirit.”
Consumers are currently filling up their tanks at an average of $4.43 a gallon, and McNally said he did not “have good news” on where those costs were headed.
“Unfortunately, look, the price we pay at the pump follows the global crude oil price more or less, with a several week lag, and global crude oil prices are heading higher, and I expect they’ll continue to head higher this month,” McNally said. “That means that it’s even now increasingly likely we will flirt with — if not make — an all-time high in terms of the average pump price of gasoline.”
McNally said that high was $5 a gallon reached in 2022.
“I think, unfortunately, as we get to Memorial Day or certainly by Fourth of July, the way things are going, we will see those levels,” he said.
Watch the clip above via CNN.
The post ‘A Gut Punch For The Airlines’: Energy Expert Rejects Trump Official’s Claim About Spirit Airlines’ Demise first appeared on Mediaite.
‘A Gut Punch For The Airlines’: Energy Expert Rejects Trump Official’s Claim About Spirit Airlines’ Demise 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-05-02 22:52:52 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law