Jet fuel and refined product prices are rebounding as crude oil prices ease, creating a rare divergence that swells costs for peak-season travelers and operators. Refining margins for gasoline, diesel, and jet fuel surged to four-year highs in early July 2026, with the US NYMEX 3-2-1 crack spread hitting a record $64.58 per barrel on 8 July despite benchmark crude plunging $31/bbl in June to $68/bbl. Airlines face rising peak-season cost pressure as product markets tighten while crude supplies increase, potentially limiting fare reductions or pressuring profitability during high-demand summer travel. US regular unleaded gasoline averaged $3.88/gallon as of 10 July, the third-highest price on record for this time of year, while jet fuel specifically is rebounding rather than falling.