Jet Fuel
huge crisis
As of
April 2026, the global aviation industry is facing a severe jet fuel crisis
triggered by the U.S.-Israel war on Iran. The conflict has led to the effective
closure of the Strait of Hormuz, a critical trade route that typically handles
approximately 20-35% of the world's seaborne jet fuel supply.
The
crisis is most acute in Europe and Asia, where countries rely heavily on Middle
Eastern fuel imports.
Key
Impacts of the Crisis
Supply
Shortages: The International Energy Agency (IEA) warned that Europe could have
as little as six weeks of jet fuel left. While the EU has downplayed the
immediate risk of "running out," officials have admitted the market
is extremely tight and are exploring mandatory fuel sharing between member
states.
Skyrocketing
Prices: Jet fuel prices have doubled since the start of the war on February 28,
2026, reaching nearly $200 per barrel. This is significantly higher than the
increase in crude oil prices, largely due to refinery bottlenecks and Europe's
dependence on imported refined products.
Mass
Flight Cancellations:
Lufthansa
has canceled 20,000 flights scheduled between May and October to conserve
approximately 40,000 metric tons of fuel.
Air
Canada suspended six routes, citing they are "no longer economically
feasible" due to fuel costs.
SAS
(Scandinavian Airlines) announced at least 1,000 cancellations in April alone.
Asian
carriers like Vietnam Airlines, AirAsia, and Vietjet have already begun
slashing flight volumes by 10-20%.
Increased
Travel Costs: Passengers are facing higher airfares, with ticket prices rising
between 10% and 40%. Airlines are also adding significant fuel surcharges and
hiking baggage fees to offset operating losses.
Experts
warn that even if a ceasefire is reached and the Strait of Hormuz reopens
immediately, it could take months to years to restore global refining capacity
and rebuild depleted fuel inventories.
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