What jet fuel shortages mean for airlines, travelers

Key Points:

• Europe faces a potential jet fuel shortage within six weeks due to the Iran war and closure of the Strait of Hormuz, threatening higher airfares and flight cancellations ahead of the summer travel season, according to IEA Director Fatih Birol.
• The Strait of Hormuz closure has halted about 40% of Europe’s jet fuel imports, with some European countries now holding less than 20 days of jet fuel supplies, raising the risk of physical shortages and flight disruptions.
• Asia-Pacific and Europe are most vulnerable to jet fuel supply issues due to heavy reliance on Middle Eastern oil, while the U.S. is less affected but faces higher fuel costs.
• Airlines like KLM and easyJet are already cutting flights or facing financial losses due to rising fuel costs, with some carriers embedding increased fuel surcharges and fees into ticket prices to offset expenses.
• Travelers should expect not only higher airfares but also more volatile scheduling, reduced route flexibility, and fewer low-fare options if the jet fuel supply disruption continues into the peak travel season.