Europe usually gets about half of its jet fuel from the Gulf and fears of shortages have pushed up prices steeply.
Last week it hit an all-time high of $1,838 (£1,387) per tonne, compared with $831 before the war began.
Many Asian airlines, and others globally, have responded by cutting flights and raising fares.
For example, Air New Zealand’s cancellations are expected to hit routes in and out of Auckland, Wellington and Christchurch, while US airline Delta will target red-eye and mid-week flights, and Air France-KLM will raise fares for long-haul journeys.
Some, such as British Airways owner IAG, have so far been able to hold off on changes because they are buying fuel at a price fixed before the war.
Air passengers are being warned further ticket hikes and cancellations are likely.
Greater demand for destinations perceived as safe, such as Portugal and the Caribbean, could also push up prices for these locations.