Jet fuel prices: Where would they be without worst recession in 70 years? Oil prices hover at USD60

Oil prices have rallied almost 80% in just three months to over USD62 per barrel, despite the worst global recession in 70 years. Crude is still some 54% below levels 12 months ago, but if the oil price can blossom on a few "green shoots", the global airline industry - particularly the LCC sector - must be dreading the potential increases when a full blown economic recovery occurs.