US airfares up 26.5% year-on-year — experts say prices won't fall even with Iran ceasefire

US domestic airfares are 26.5% higher than a year ago according to June's consumer price index data, with global ticket prices up 25–30% year-on-year. Analysts warn that even a lasting US-Iran ceasefire and resulting oil price drop would not quickly translate into cheaper flights. High travel demand and reduced oil refining capacity are keeping prices elevated.