Summer holidays in the UK and EU could face disruption as airports warn that jet fuel may run short within three weeks unless oil supplies resume through the Strait of Hormuz. The warning from Airports Council International (ACI) Europe raises the prospect of flight cancellations during the peak travel season.
In a letter to EU energy and transport commissioners, ACI Europe said that without a significant and stable resumption of shipments through the strait, a systemic jet fuel shortage would become a reality for the bloc. The closure of the vital shipping route by Iran in retaliation for US and Israeli military action has sent global jet fuel prices soaring.
Brent crude oil prices reached about $96 a barrel on Friday, up from $72 before the conflict, despite a two-week ceasefire announced by US President Donald Trump. Jet fuel prices in Europe have risen 138% year-on-year to $1,650 a tonne, according to Iata data, with Asian prices up 163%.
Rico Luman, a senior economist at ING, warned that smaller airports, which typically hold only four to five weeks of reserves, could face cancellations within weeks. Airlines may cut flights on less popular leisure routes first. Several carriers, including Skybus, Aurigny, Air New Zealand, and Ryanair, have already reduced services or are considering doing so.
A UK government spokesperson said no disruption to fuel supplies had been reported and that British aircraft were operating normally. However, the last Gulf jet fuel tanker destined for the UK arrived in Kent on Tuesday, and the final European shipment is due in Copenhagen on Saturday. Europe sources over 60% of its jet fuel from Gulf refineries, with more than 40% transiting through the Strait of Hormuz.
