The ongoing war between the U.S., Israel, and Iran is significantly impacting global jet fuel supplies, leading to higher airfares and reduced flight availability. The head of the International Energy Agency has warned that European countries could face jet fuel shortages within weeks, prompting airlines to raise checked bag fees and add fuel surcharges. The global price of jet fuel surged from $99 per barrel at the end of February to as high as $209 per barrel by early April.
In response to the crisis, Air Canada announced plans to suspend its service to New York’s John F. Kennedy International Airport from June 1 to October 25 to cut fuel costs. Other airlines, including United, Delta, Air France-KLM, SAS, Philippine Airlines, and Cathay Pacific, have also reduced routes or increased ticket prices. Experts warn that prices will likely remain elevated until the situation stabilizes.
The conflict has disrupted the Strait of Hormuz, a critical route for jet fuel, where 21 million barrels of crude oil and other energy sources pass daily. Despite temporary reopenings, the strait has been closed again, exacerbating supply chain issues. The International Air Transport Association (IATA) has advised passengers to expect flight disruptions and higher fares.
Meanwhile, UK fuel prices have dropped slightly for the first time since the war began, offering some relief to motorists. Petrol and diesel prices remain higher than pre-war levels, but experts hope for further reductions in the coming days.