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WSJ What’s News

Oil Prices Have Fallen. So Why Haven’t Airfares?

WSJ What’s News

The Wall Street Journal

Daily News, News

4.14.2K Ratings

🗓️ 7 July 2026

⏱️ 13 minutes

🧾️ Download transcript

Summary

P.M. Edition for July 7. Airlines raised prices after the Iran war to cover rising fuel costs. Now, fuel prices have fallen, but travelers may find that their ticket price hasn’t. Journal reporter Alison Sider explains. Plus, the Trump administration revokes a waiver that allowed Iran to sell oil after recent attacks in the Strait of Hormuz, threatening to unravel a shaky peace deal. And artificial intelligence companies like OpenAI and Anthropic want businesses to buy their cutting-edge products. Now they’re sweetening the deal with discounts. We hear from WSJ reporter Berber Jin about just how lucrative these credits are for the Silicon Valley startups using them. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter.

Transcript

Click on a timestamp to play from that location

0:00.0

Attention all passengers.

0:03.0

The Uber ride for Jeff's rugby team will depart in five minutes from Platform 15.

0:09.0

Your ride comes with six toilets and a refreshments carriage that you'll empty within five minutes.

0:16.0

Thank you for booking your tickets on Uber.

0:19.0

Trains on Uber. Trains on Uber.

0:25.4

AI companies are competing for clients the old-fashioned way with discounts.

0:30.6

And oil prices have fallen.

0:32.7

So why are airfares still flying high?

0:35.6

Well, airlines have realized that they have some pricing power right now,

0:39.5

and they're not wanting to give it up easily. Plus, the Trump administration revokes a key

0:44.3

financial benefit for Iran. It's Tuesday, July 7th. I'm Alex O'Sullough for the Wall Street Journal.

0:50.9

This is the PM edition of What's News, the top headlines and business stories that

0:55.6

move the world today.

1:02.3

Starting today with a big U.S. political story. Bernie Sanders is the latest progressive to call

1:08.1

for Graham Platner to drop out of the Maine Senate race.

1:11.4

Democrats are rescinding their endorsements and cutting off funding a day after a woman alleged

1:16.0

that Plattner sexually assaulted her. Plattner has denied the allegation.

1:20.5

Maine is key for Democrats' hopes of taking back the majority in the Senate. If Platner drops out,

1:26.0

Democrats would have until July 27th to pick someone else.

1:29.4

Potential candidates include people who fell short in the governor's primary race earlier this year,

1:34.0

like Maine Secretary of State Shena Bellows, the state's former Senate President Troy Jackson,

1:38.7

and its former state health director, Narav Shah. The discussions around a replacement are exposing

...

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