European airports warn of looming jet fuel shortage
ACI Europe warns of a jet fuel shortage within three weeks due to Middle East tensions. The group urges the EU to map supplies and ease import regulations.
The European airport industry has issued a warning that the continent could face a systemic jet fuel shortage within three weeks if the Strait of Hormuz remains closed. In a formal letter to the European Commission, the Airports Council International Europe (ACI) called for urgent, union-wide intervention to secure energy supplies ahead of the peak summer travel season. The industry body emphasized that a fuel crunch would significantly harm the European economy, compounding the macroeconomic impact of rising oil prices triggered by the ongoing Middle East conflict.
The potential shortage comes as energy markets face increased volatility. The prices of Brent Crude Oil and West Texas Oil have been impacted by geopolitical tensions, while jet fuel prices have more than doubled to between $150 and $200 per barrel in recent weeks. For an industry where fuel accounts for up to a quarter of operating expenses, these price hikes represent a severe financial burden.
