BUSINESS NEWS


Jet fuel prices have ‘soared above $200 per barrel’, due to closure of the Strait of Hormuz


Uncertainty over jet fuel shows no sign of abating


ANALYSIS:Calls grow to plan for potential oil shortages, reports Ian Taylor The fallout on inflation and,


The war on Iran seemed poised to resume as Travel Weekly went to press on Tuesday, with Iran vowing to retaliate after the US seized an Iranian ship on Sunday and reports suggesting its negotiators regarded the latest Pakistan-brokered talks as merely “a deception”. Oil prices continued to see-saw


with the latest news, rising this week after plunging on Friday at news of an apparent reopening of the Strait of Hormuz only for Iran to declare the strait closed again – although six cruise ships did manage to exit the Gulf.


48 23 APRIL 2026


crucially for travel, the availability and cost of jet fuel can only intensify as the crisis continues. Chancellor Rachel Reeves


insisted last week “there are no issues with supply”, including of jet fuel, as the government maintained efforts to forestall panic-buying. But that is not the view of the


International Energy Agency (IEA), the European Commission or Iata. Willie Walsh, Iata director general, described an IEA assessment of jet fuel shortages in Europe by


next month as “sobering”, saying: “By the end of May we could start to see cancellations in Europe for lack of jet fuel. This is already happening in parts of Asia.” He urged governments to


“have well-coordinated plans in place in case [of] rationing”. The EC was due to unveil its plans


to address shortages this week. Even with fuel available, and most airlines in Europe well-hedged on


Continued on page 46 travelweekly.co.uk


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PICTURES: Shutterstock/corlaffra, tenplusone


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