Ryanair says European short-haul fares could'increase materially' next year. Ryanair says European short-haul fares could'increase materially' next year. Ryanair is considering cost-cutting measures including pay freezes, reducing crew numbers on flights and increasing the use of AI to offset soaring fuel costs driven by the Middle East conflict . Europe's largest low-cost carrier said it expected European airlines to raise ticket prices by up to 20%, with its own jet fuel costs forecast to rise by about €2bn (£1.6bn) in its next financial year, which ends in March 2028. "Unless there is a swift resolution of the Middle East conflict we expect jet fuel prices to remain elevated well into 2027," said Michael O'Leary, the chief executive of Ryanair .

Ryanair may freeze workers' pay and raise fares on higher fuel prices Ryanair is considering a temporary wage freeze for staff to pay for a sharp rise in its fuel costs which have surged following the US-Israel war with Iran. The carrier said it expects fuel prices to remain high well into 2027 unless there is a swift resolution to the conflict. Ryanair said its fuel bill is forecast to be €2bn (£1.6bn) higher in the short-term and said it expects European airfares to increase to help cover the cost. But it said that was unlikely to be enough and, among a number of measures, it is looking into temporary pay freezes. The BBC has contacted Unite, the union which represents Ryanair employees, for comment.

Is the war entering a new phase? An oil refinery in Russia's Samara region has been struck in renewed Ukrainian drone strikes. Russian authorities say they intercepted more than 1,000 Ukrainian drones over multiple regions overnight. Why are Detroit gas stations selling discounted fuel in Trump's name? Netanyahu attacks Israel's Arab parties as he falls short of majority

The Iran War's Impact on Oil Is Hitting Key Senate Races Hard Democrats are using the high price of diesel, heating oil, and fertilizer to tie Republicans to President Donald Trump's unpopular, costly war in Iran. Now in its ninth month, the war in Iran has hit American pockets hard, and it could shift the balance in key midterm races that decide who controls Congress. The serious damage to refineries and other facilities in the Middle East, combined with ongoing uncertainty about whether the Strait of Hormuz will remain open, have kept oil prices inflated. Americans have paid for it: The Center for American Progress estimates that the war has cost each US household at least $1,200. Rising costs are among the reasons the war has been deeply unpopular, and Tuesday's midterms are likely to be a referendum on how the White House has handled the impact.

Trump announces deal for Russian diesel as Zelensky criticises'gift to Putin' US President Donald Trump says he has reached an agreement with Russian President Vladimir Putin allowing Moscow to immediately release diesel into the global market. He said Putin had agreed to release 300,000 tonnes of diesel immediately, followed by 500,000 tonnes in November and another million after that. Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST! Trump wrote on Truth social. An envoy to Putin welcomed the deal, but Ukraine's president said any easing of sanctions on Russia played into Moscow's hands and would prolong a war that must be ended. Diesel prices in the US have doubled since the war with Iran began in February, putting pressure on Republicans ahead of the midterm elections over the rising cost of living.

Is the war entering a new phase? Ukraine launches major drone attack on Russia's Moscow region, killing two Share Ukraine launches major drone attack on Russia's Moscow region, killing two on social media Ukraine has launched a major drone attack on Moscow, killing two people and setting fire to a warehouse in the capital city, Russian officials say. Moscow Mayor Sergei Sobyanin said on Tuesday that the overnight assault involved 650 drones heading towards the city, most of which were shot down, as both sides intensify long-range strikes on infrastructure before winter. He said seven people had been injured and that 47 houses, four apartments and three cars had been damaged. He said 185 drones were "destroyed or neutralised" over the wider region.

Britain is in talks with EU partners to release additional strategic fuel reserves, including diesel, if needed, the BBC understands. The talks come after President Donald Trump threatened to ban diesel exports from the US in a bid to reduce record prices at the pumps for Americans. Diesel prices in the UK also hit record highs this week and are hovering just under 200p per litre, according to motoring organisation the RAC. The US is a vital supplier of diesel to the world, exporting between 1.2 and 1.5 million barrels per day, with experts warning a ban on shipments abroad could put further pressure on prices in other countries. We're thinking about it very seriously, Trump said of an export ban at the weekend.

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Policymakers at the Bank of England are expected to keep interest rates unchanged despite price rises accelerating due to the prolonged conflict in the Middle East. The nine-member Monetary Policy Committee (MPC) has been meeting amid a backdrop of increasing global energy prices and interest rate rises around the world. Economists expect the MPC to hold the benchmark Bank rate at 3.75% for a sixth consecutive meeting but analysts are more divided on whether the rate will need to go up before the end of the year. The Bank rate is crucial in setting the benchmark for banks and other lenders in setting interest for individuals and businesses borrowing and saving money. The latest interest rate decision will be announced by the Bank at 12:00 BST on Thursday.

Rises in petrol, diesel and airfares pushed UK inflation up to its highest level in five months in the year to August. Inflation accelerated to 3.1% from 2.9%, according to the Office for National Statistics (ONS). The cost of filling up a vehicle soared in August as the conflict in the Middle East continued to disrupt global oil supplies. Petrol prices jumped to their highest for nearly four years, the ONS said, while diesel also rocketed. Meanwhile, the cost of flying jumped during the key month for summer getaways.