Jet fuel supplies are lagging. What does that mean for airlines and travelers?
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A looming jet fuel shortage in Europe and Asia, caused by the Iran war and the closure of the Strait of Hormuz, may lead to higher airfares and flight cancellations as the summer travel season approaches. Europe has 'maybe six weeks' of remaining jet fuel supplies, according to the International Energy Agency Director.
A jet fuel shortage is looming in Europe and Asia due to the Iran war and the effective closure of the Strait of Hormuz. Europe has 'maybe six weeks' of remaining jet fuel supplies, according to International Energy Agency Director Fatih Birol. Jet fuel prices have roughly doubled since the war began, and shortages could start soon. Some European countries now rely on less than 20 days of coverage in their fuel supplies. The US has increased its exports of jet fuel to Europe to fill some gaps. Airlines may pass on costs to consumers, and some have already increased fees or cut flights.
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