New Delhi, March 10 -- The Air India group on Tuesday announced a phased increase in fuel surcharges on both domestic and international flights, citing the sharp rise in jet fuel prices driven by geopolitical tensions in the Gulf region.

In a press release, the company said that since March, aviation turbine fuel (ATF), which accounts for roughly 40% of an airline's operating costs, has seen a significant price jump due to supply interruptions.

The development comes nearly two weeks after the United States and Israel launched strikes on Iran, targeting its key military and naval forces, killing its former Supreme Leader, Ayatollah Ali Khamenei, who ruled the country for 36 years. The strikes prompted Tehran to retaliate, thereby plungin...