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The CEO of a major US airline has warned that surging jet fuel prices caused by the war with Iran could soon force airlines to raise ticket prices.

Getting into it: While speaking at an event at Harvard University, United Airlines CEO Scott Kirby warned that rapidly rising jet fuel costs tied to the conflict could soon ripple through the airline industry. Kirby said the surge in fuel prices would likely have a “meaningful” impact on United’s upcoming financial results, noting that airlines are particularly sensitive to fuel volatility because it is one of their largest operating expenses.

He also suggested travelers may start seeing the effects sooner rather than later. When asked when higher fuel costs might translate into higher airfares, Kirby said the impact would “probably start quick.” Jet fuel prices have climbed sharply since the conflict escalated, with the Argus US Jet Fuel Index showing prices approaching about $3.90 per gallon, a dramatic jump from levels seen before the strikes began.

Kirby’s warning comes as the conflict has disrupted energy flows through the Strait of Hormuz, a narrow but critical shipping channel connecting the Persian Gulf to the Gulf of Oman. Roughly one-fifth of the world’s oil supply passes through the waterway each day, and disruptions there have intensified fears of supply shortages and higher energy prices.

The Gulf region also plays a major role in supplying aviation fuel globally. Refineries in the Middle East account for a substantial share of jet fuel exports, and about half of Europe’s imported aviation fuel comes from the Gulf.