fuel

Caracas, June 3, 2026 (venezuelanalysis.com) – The Venezuelan government headed by Acting President Delcy Rodríguez has instructed airlines and shipping companies to direct fuel payments to a US Treasury account.

Spanish newspaper El Diario published a May 28 letter from state oil company PDVSA addressed to “aviation and maritime customers” that laid out the “banking coordinates” for foreign currency payments concerning JET A1, MGO, and IFO 380 purchases.

JET A1 is a kerosene-based fuel widely used by commercial airplanes, while Maritime Gas Oil (MGO) and Intermediate Fuel Oil (IFO) 380 are standard for ship engines.

“We urge our customers to take the necessary precautions and forward the payment receipt to PDVSA sales representatives so that the payment is cleared and fuel supply is assured,” the letter read.

An attached US Treasury information sheet contains details for Fedwire payments to a “Venezuela custody account” and requires information about “source of funds, e.g., oil, gold, minerals, etc.”

The leaked letter is the first publicly available document from a Venezuelan state institution directing foreign currency payments to an account run by the US Treasury Department as opposed to the country’s Central Bank (BCV) or some alternative state-run mechanism.

Since the January 3 military strikes and kidnapping of Venezuelan President Nicolás Maduro, the Trump administration has seized control of the country’s export revenues. The White House has likewise extracted concessions in the form of pro-business reforms, preferential access for Western corporations to natural resources, and external audits of the Venezuelan Central Bank.

US Treasury general licenses allowing select Western corporations to engage in oil and gas activities mandate that all Venezuela-owed payments for royalties, taxes, and dividends be deposited in US Treasury accounts. Additional sanctions waivers imposed similar constraints on mining sector services and exports.

Neither US nor Venezuelan authorities have disclosed information about the funds, the timings of their disbursements back to Caracas, and the percentage kept by the Trump administration. The US president stated in a May interview that Washington has “made a fortune” from Venezuelan oil sales.

Both Washington and Caracas have acknowledged the use of Treasury-held Venezuelan revenues for the purchase of medicines and medical equipment from US manufacturers. In January, Secretary of State Marco Rubio said in a Senate hearing in January that Venezuela would need to submit a “budget request” to access its own funds.

According to reports, Washington is mandating that the Venezuelan Central Bank distribute the returned foreign currency to private sector importers via exchange table auctions run by public and private banks. The BCV has reportedly allocated more than US $5 billion thus far in 2026.

The Rodríguez acting government’s diplomatic rapprochement with the Trump White House, coupled with reforms to attract Western investment, has led to a growing number of international airlines reestablishing flights to the Caribbean nation. American Airlines currently runs two daily direct Caracas-Miami flights, while United Airlines will launch a Caracas-Houston connection in August. Jetblue, for its part, is set to initiate its first-ever Venezuela route later in the year.

Venezuelan authorities have likewise recorded increased shipping activity at the country’s ports.

Flights were delayed at two major UK airport because of jet fuel supply issues on Sunday evening. Passengers on ten flights flying out of Glasgow and Edinburgh airport faced delays.

The two Scottish airports have now said their operations are returning to normal after issues with the supply of jet fuel on Sunday evening.

The situation around the Strait of Hormuz, where shipping has been severely constrained since the outbreak of the Iran war, has led to a reduction in the global supply of jet fuel. However the issues at the two Scottish airports are understood to be linked to a shortage in drivers for fuel lorries rather than the global market.

A spokesperson for Edinburgh Airport said 10 flights were delayed on Sunday, but deliveries had resumed on Monday.

A spokesperson for Glasgow Airport said: “A short‑term staffing issue has affected one of the fuel suppliers used by airlines at the airport, with work underway to return stock levels to normal. There have been no related flight cancellations, and the airport remains fully operational.”

The spokesperson said fuel stocks are now returning to normal and there was no widespread disruption despite delays to some flights. Jet fuel is purchased by airlines, while the airports provide storage and infrastructure.

Arsenal will celebrate their Premier League title win on Sunday in front of their supporters in north London.

“If you’d offered them at the start of the season – that they would win the Premier League title and lose the Champions League final by a penalty kick, then it is not a bad season, it is a great season and I mean a really great season,” Pat Nevin told BBC Sport.

“Let’s remember they have lost tonight but they are the Premier League winners,” Onouha added.

“They have got their parade to look forward to and I don’t think there will be any fewer people turning up tomorrow just because they have lost the Champions League final.

“I think the club is in a great position, the manager has been there for many years now and he has a bunch of players who are still very very hungry, even though they have been successful.”

The review of the Arsenal squad will come in the summer but this team has progressed so much from the one that Arteta took over in 2019.

Bukayo Saka is the last player left from that squad and Arteta said it has been a “joy” to share this season with his players and staff.

Arsenal have looked at how they could generate money in the coming transfer window by potential player sales.

There is also a group of exciting youngsters, including 19-year-old Myles Lewis-Skelly – who started in Budapest – Ethan Nwaneri, 19, and 16-year-olds Max Dowman and Marli Salmon who could emerge as first-team regulars in the coming seasons.

“It is cruel for Arsenal fans, but it is inevitable that this club win the Champions League,” European football expert Julien Laurens said on 5 Live.

“Mikel Arteta will see the positives because that is the kind of guy he is. Arsenal are getting closer and closer.”

And for Arteta, despite the pain, says he is ready to celebrate what has been a big step for his Arsenal side.

“I already know how they [the fans] feel about the team. I want to thank them for everything they’ve done for us throughout the season.”

“Difficult moments like this, they’ve been with us. It’s been a joy to see the reaction they’ve had when we’ve been able to win a league after 22 years.

“It hurts a lot for them not to win it today because I can’t even imagine what would have happened.

“We all had a huge desire to win it and tomorrow we’ll have a great day, I’m sure.”

ONE of Britain’s biggest holiday park operators is offering to cover the cost of customers’ fuel to get to their sites as prices continue to skyrocket.

With oil prices hitting their highest since 2022 due to ongoing tensions in the Middle East, petrol, diesel, and plane fuel costs are being passed on to consumers. 

As a result, Hoseasons is offering to pay back the money spent travelling to their sites via its newly launched ‘Fuel Cover’ scheme this summer.

It follows research which found 15.4 million Brits (28 per cent) have changed holiday plans this year due to rising costs. 

Nearly six in 10 of the 2,000 adults polled said the hidden costs of going away, including travel, fuel and expenses while there, are putting them off booking a trip this summer.

Simon Altham, chief operating officer for the brand, which commissioned the poll, said: “UK breaks remain a hugely popular option for families looking for flexibility, value and quality time together, giving people the chance to properly switch off and reconnect closer to home.

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“We know rising travel costs are becoming a bigger consideration for many holidaymakers this summer.

“Fuel, in particular, can quickly add to the overall cost of a trip, especially for families travelling during peak holiday periods.

“That’s why we wanted to help ease some of that pressure and support people continuing to take the UK breaks they were already planning this summer.”

The study also found, 7.6 million (27 per cent) of those planning a UK break admitted they would travel shorter distances for a UK getaway this year. 

Those travelling by car expect to spend an average of £68 on fuel for their next UK holiday journey.

Rising costs are also influencing where people travel, with 28 per cent now more likely to choose a UK break over going abroad.

Among those still looking to get away, 26 per cent have set a lower overall budget for their trip, while 23 per cent are looking for self-catering accommodation. 

A similar proportion (23 per cent) said they’re actively seeking cashback or money-saving deals before booking. 

Despite the financial pressures, the research carried out through OnePoll found 56 per cent of those planning to holiday this year are still likely to book a getaway this summer. 

And 61 per cent believe holiday companies need to do more to encourage people to book trips in the current climate. 

Hoseasons customers can claim back up to £75 in fuel costs through its new Fuel Cover initiative per booking between 20 May and 30 August for travel before 30 September. Bookings must be made by phone and quoting the code “FUEL75”.

Simon Altham from Hoseasons added: “Travel costs are one of the biggest considerations for holidaymakers at the moment.

“Fuel, in particular, can quickly become one of the biggest extra costs for families travelling during peak holiday periods.

“That’s why we’ve designed the offer to ease some of the pressure and help families make the most of their summer breaks.”

BUDGET airline easyJet has issued a major update on its jet fuel supply including some flights that will now cost more.

EasyJet has revealed that bookings are lower for this summer compared to last year, as a result of the conflict in the Middle East – but flights are set to go ahead as planned.

Follow The Sun’s award-winning travel team on Instagram and Tiktok for top holiday tips and inspiration @thesuntravel.

According to the short-haul airline, it has only sold 58 per cent of its seats available until the end of September – which is two per cent less than the same period last year.

However, easyJet boss Kenton Jarvis reassured that the airline is “not seeing any disruption to fuel supply” as he urged people to “book with confidence”.

When asked about the issue on BBC Radio 4’s Today programme, Jarvis said: “I would absolutely say don’t panic about it.

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“At easyJet, we fully intend to fly the summer schedule that we have on sale, and we also have a ‘book with confidence’ promise that we will not put fuel surcharges on, so once you’ve booked, that will be the price you pay.”

The airline has increased the prices of its winter flights though, for the 2026/27 season, by “two to three pounds”.

Jarvis said: “Fares for this summer are looking incredibly attractive.

“The fare price that we take is based on a number of factors – it’s based on the demand, the route, the timing of the route.

“What we’re seeing this summer is that fares are broadly in line with where they were this time last year, which obviously is incredibly good value.”

Jarvis did predict that some other airlines may run into problems though, due to the increased fuel costs.

He said: “The demand situation will mean that prices remain competitive throughout the summer.

“If you haven’t hedged, you won’t be able to pass on the incremental price of fuel very easily.

“I’m not going to speculate as to which airlines that might be, but airlines with considerable debt would be one to look at.”

Currently, easyJet has hedged (locked in the price of) 72 per cent of its fuel supply between now and the end of September at the prices available before the Iran conflict.

However, this falls to 53 per cent for the winter 2026/27 period.

As someone who is “not the best person with bugs and stuff,” Stephanie Bernaba never imagined herself becoming an outdoorsy mom.

But the mother of three is getting more daring as gas prices and other travel costs make vacations more expensive. Bernaba, 47, has been steering her family toward local beaches, bike rides and hiking trails near their home in coastal Rhode Island instead of the faraway trips they once took.

“I’ve been trying to do more of that because one, it’s quality time. Two, it’s fresh air. And three, we’re not spending an arm and a leg,” she said.

That kind of calibration is shaping the summer travel season, which gets its traditional start in the U.S. with the long Memorial Day holiday weekend. Higher fuel prices resulting from the Iran war and other inflationary pressures are making most forms of travel costlier as people in many parts of the world form their plans.

The U.S. Travel Assn. expects annual travel spending to grow by a modest 1% this year, powered largely by domestic leisure travel despite the FIFA World Cup giving soccer fans from other countries a reason to visit the U.S. Airfares have climbed around the world along with the price of jet fuel as the war constrains global oil supplies.

Sticking closer to home may not cushion the sticker shock. The nonprofit Institute on Taxation and Economic Policy estimated Americans would collectively spend an extra $3.5 billion on gasoline over the holiday weekend. The average price for a gallon of regular gas in the U.S. was $4.56 on Thursday compared to $3.18 a year ago, according to the motor club AAA.

Other travel expenses have gone up too. The latest consumer price index showed airfares were 20.7% higher in April from a year earlier, the cost of intracity transit, such as buses and subways, rose 5.6%, lodging cost 4.3% more, and eating out got 3.6% pricier.

Changing travel patterns

Despite elevated prices, industry forecasts suggest Americans still want to get away, even if it means replacing long trips with long weekends, choosing destinations closer to home and finding ways to cut costs by cooking meals or using buses and trains instead of driving.

AAA predicted that 45 million U.S. residents would travel at least 50 miles from home between Thursday and Monday. The Transportation Security Administration said it expects to screen 18.3 million passengers from Thursday to next Wednesday.

Many households are planning summer vacations but making tradeoffs such as shorter trips or cheaper lodging, according to Bank of America analysts. Mastercard said in a recent report that consumers appeared increasingly focused on value and were adjusting their destinations and timing instead of not going away at all.

“Generally, it’s certainly more of a demand reshuffling than a demand softening,” David Tinsley, a senior economist at Bank of America Institute, said.

For the Bernaba family, that has meant trading a big vacation for a shorter trip nearby this summer. Their scaled-back itinerary still is pricey: more than $400 for a ferry to Martha’s Vineyard for their car and passengers, and about $800 a night for each of the two hotel rooms the family of five needs.

Another family that had planned to join them backed out after seeing the price tag.

“The pinch is being felt all the way around,” Bernaba said.

Analysts have increasingly described travel spending as “K-shaped,” with higher-income households continuing to spend while lower-income families pull back or opt out entirely. Bank of America said lower-income households were significantly more likely to report having no summer travel plans this year.

Travelers are confronting other stressors besides cost.

Airlines around the world have canceled flights and trimmed routes to save on fuel and operating costs, leaving passengers with fewer options. Recent U.S. government shutdowns — which caused major flight disruptions and long security lines — are likely still fresh in travelers’ minds. The conflict in the Middle East and broader geopolitical tensions add another layer of concern, especially for those considering trips abroad.

The various factors impacting travel right now have made planning trips more mentally taxing and may be pushing people toward simpler and more accessible vacations that feel easier to manage, said Marta Soligo, a tourism sociologist at the University of Nevada, Las Vegas.

“The keyword here is unpredictability,” Soligo said. “Tourists don’t like unpredictability.”

Quality over quantity

Jim Wang, a personal finance blogger who lives in Maryland with his wife and four children, said his family’s original plan to travel to Spain to see a full solar eclipse in August began to unravel once they looked at the logistics.

Beyond thousands of dollars in airfare, the trip would have required multiple connecting flights, plus a car rental to reach northern Spain, where the path of totality is expected to pass.

“It’s like, ‘Oh, I don’t know if I want to see the eclipse that much,’” Wang said.

Instead, Wang’s family plans to head this summer to the Lake Tahoe area straddling California and Nevada, where they can stay at a relative’s cabin for free, hike and enjoy a slower pace with limited cellphone service. His wife’s parents and sister expect to join them.

“We’re still going to travel. It’ll just be different,” Wang said. “The vacations are no longer as grand for the adults. But for our kids, it’s still exciting.”

Nancy McGehee, a Virginia Tech hospitality professor who studies consumer behavior, said travelers are increasingly focusing more on the “why than the where” when it comes to vacations.

“What we’re seeing is people are saying, ‘All right, we can’t do that big splashy trip we wanted to do, but what else can we do?’” McGehee said. “It’s more quality over quantity that we’re seeing people go for.”

Back in Rhode Island, Bernaba has accepted that travel may look different for her family for a while.

“I think that’s probably why my mind has gone to doing more nature-y things,” she said. “Let’s learn how to use the earth to enjoy ourselves because that’s not going to cost as much money.”

Yamat writes for the Associated Press.

Israel is moving to enhance the capabilities of its F-35I Adir fighter, funding a new external fuel tank upgrade that will boost the Israeli Air Force’s potential for conducting long-range strikes. The announcement comes after the jets saw extensive action striking targets in Iran during the campaigns this year and last. In the process, the fleet ran at a tempo of operations that raised questions about Israel’s ability to provide adequate refueling support. The new modification for the F-35I will help address that.

The Israeli Ministry of Defense confirmed today that the development and integration of the external fuel tanks on the F-35I will be carried out by Elbit Systems’ Cyclone subsidiary. Elbit says the deal is valued at over $34 million and will involve tanks based on an existing Cyclone design originally developed for the F-16.

“The new capability is expected to extend the aircraft’s operational range, reduce reliance on aerial refueling, and enhance operational flexibility across long-range missions,” the company added.

Based on the reference to the F-16, the announcement has been widely taken to refer to external drop tanks, but it remains possible, although improbable, that the F-35I is getting some kind of conformal, flush-mounted fuel tank. This could have a reduced impact on stealth and overall performance, but would likely also involve significant shape change and alterations to the airframe. Integrating and clearing tanks of this kind for operational service would be a complex and potentially very lengthy process, since they would disrupt the highly quantified low-observable moldline of the aircraft. However, Israel has experience in operating both F-15s and F-16s with conformal tanks.

Obviously, adding external fuel tanks of any kind to the stealthy F-35I will degrade its low-observable features. However, with the Israeli Air Force putting a premium on its ability to conduct long-range strikes, this is clearly seen as a worthwhile tradeoff. If the upgrade does involve drop tanks, they are also likely to be jettisonable, possibly together with their pylons, meaning they could be discarded before penetrating a hostile air defense system, for example. This would only be the case on extremely high-risk long-range missions, and could not be sustained for long campaigns. They could also be dropped when under threat, giving the F-35I back critical agility and providing a lower radar signature.

There are also means of mitigating the penalty that drop tanks impose on a stealth aircraft. This is best evidenced by the new fuel tanks for the U.S. Air Force F-22 Raptor, which are seen as a critical addition to ensure that the fighter is able to better cover the vast distances involved in a potential future conflict in the Indo-Pacific.

The new faceted, low-drag tanks for the F-22, like the older ones, can be jettisoned from the jet to restore the full scope of its performance and further reduce its radar cross-section. However, Lockheed Martin says it expects the Raptor to go into direct combat, at least in some scenarios, with the tanks fitted.

There have also been steady signals that some kind of range extension was in the works for the Israeli F-35I.

Back in 2021, a cryptic announcement from Lockheed Martin confirmed that the company was working with an unnamed foreign buyer to develop a modification of the F-35 to the tune of tens of millions of dollars in engineering support work. An Israeli fuel-carriage enhancement was a possibility, as you can read more about this here.

Then, in 2022, separate reports emerged suggesting that Israel had developed an unspecified means of extending the range of its F-35Is, allegedly providing them with enough reach to hit targets in Iran without needing aerial refueling. The 2022 reports might have involved a prototype version of the tanks mentioned in the announcement today, some other kind of external fuel carriage, or they might have been erroneous.

More recently, just before the latest campaign against Iran, Israeli Ambassador to the United States Yechiel Leiter provided what was likely the first official confirmation that range-extending fuel tanks for the F-35I are already in service. In an interview in mid-February, he stated: “We developed fuel tanks that extend the aircraft’s range without compromising stealth.” Exactly how this was achieved was not revealed, but even small internal tanks may be a possibility, while also presenting a serious engineering challenge.

In the United States, range-extending external fuel tanks for the F-35 also re-emerged in 2025 as part of the ongoing Block 4 modernization effort for those aircraft, years after a requirement for streamlined drop tanks was eliminated. The Pentagon confirmed it will explore the feasibility of all forms of external fuel tanks, including underwing tanks, for all three variants of the F-35.

Overall, the idea of integrating external fuel tanks on the F-35 is far from new. Back in 2019, TWZ reported on how Lockheed Martin was looking at adding two 600-gallon drop tanks under the F-35’s wings as part of a larger range-extension study. This would have increased total fuel capacity by around 40 percent. Prior to that, studies had looked at adding smaller 480- and 460-gallon tanks.

Of these, the original 480-gallon drop tank was abandoned after aerodynamic and stores separation issues emerged. The subsequent 460-gallon design was also not ultimately pursued, and it was found that additional drag also eroded the range increase.

It is notable that Aviation Week previously reported that Israeli Aerospace Industries (IAI) and Cyclone had worked on both a conformal tank design for the F-35I and the 600-gallon drop tank.

As an Israeli-specific version of the conventional takeoff and landing F-35A, the Adir already incorporates some significant Israeli-developed systems. Many of these have been tested on a specially outfitted one-off version of the aircraft, which arrived in the country in 2020. Israeli additions include electronic warfare systems and also weaponry. The F-35I fleet is expected to be armed with the Rafael SPICE precision-guided bomb, but may eventually include air-to-air missiles and other weapons, too.

At the same time, the F-35’s inboard stores hardpoints are still plumbed for the carriage of external fuel tanks, suggesting that introducing this capability, including on the Israeli-specific F-35I variant, might not be too complicated.

The Israeli requirement for the F-35I to be less reliant on aerial refueling is especially important. The Israeli Air Force currently operates a fleet of only around seven aging Boeing 707 tankers. The overreliance on these aging tankers for long-range missions has led to previous speculation that the Israeli Air Force has relied upon U.S. Air Force refueling support when it has gone into combat. The Pentagon denied this.

At the same time, a strike package that doesn’t require tanker support is in some ways more flexible and more survivable. Moreover, the survivability of traditional refueling jets in or near contested airspace is becoming a growing concern. Meanwhile, Israel is now starting to modernize its tanker fleet, with the first of its more modern KC-46s having begun flight trials earlier this month.

Israel has also previously shown that it is willing to degrade the stealth characteristics of the F-35I to increase its strike capacity. The type has been seen flying strike sorties with external ordnance, demonstrating the F-35’s so-called ‘beast mode,’ featuring loads on underwing pylons.

Israel has repeatedly used its F-35Is in strikes on targets both closer to Israel and much further afield. In 2018, it became the first operator to use the jet on offensive operations. Meanwhile, it has also recorded success in aerial combat against hostile drones.

Last year, the Adir was involved in strikes on Iran’s nuclear infrastructure. There were reports that Israeli fighters often landed on fumes after their initial sorties during this conflict. With these jets operating to the edge of their endurance, fuel starvation was a serious threat, and it is perhaps surprising that none were lost. External drop tanks were also found in multiple locations in eastern Iraq, pointing to their use to maximize long-range sortie rates early in the conflict.

The F-35I also played an important role in striking Iranian targets during the joint U.S.-Israeli campaign launched at the end of February this year.

The Israeli effort against Iran, Operation Lion’s Roar, also saw an Israeli Adir claim the first aerial victory for any F-35 against a crewed aircraft. On March 4, in an incident that you can read more about here, an F-35I brought down an Iranian Yak-130 Mitten combat trainer over Tehran.

The importance of the F-35I to Israel has also been demonstrated by the country’s successively adding to its orders for the type.

Earlier this month, it was confirmed that the Israeli Air Force is set to receive a fourth F-35I squadron, bolstering its fighter inventory with another 25 of the aircraft.

In 2023, Israel opted to buy a third squadron of F-35Is, covering 25 more jets. This batch is scheduled to be delivered starting in 2028.

Once all four squadrons are stood up, Israel will have a total of 100 F-35Is.

Before long, we are likely to see at least some of these jets sporting the long-range upgrade announced today. At that point, the precise nature of these external fuel tanks will finally be revealed.

Contact the author: thomas@thewarzone.com

LOVE Island stars Millie Court and Whitney Adebayo have left fans confused as to if it’s all over with their American boyfriends Zac and Yamen as they continued to fuel split rumours.

The pair have posted a string of cryptic clues, hinting they have called it quits with their partners just months after the All Stars series ended.

Taking to TikTok, Whitney, 28, shared a video of her and Millie having a boozy girls night – and fans are convinced they’re now single.

Sitting in their PJs on a bed they could be seen cheersing their drinks as the words, “so we’re gonna heal” played over the top of the clip.

The sound continued: “We’re gonna start again. You’ve bought the orchestra, synchronised swimmers. You’re the magician.

“Pull me back together again, the way you cut me in half.”

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Millie, 29 and Whitney burst out laughing while the sound played and she captioned the post with six laughing face emojis.

While some fans in the comments thought the pair were joking with their viewers amid the break up rumours, others were certain they had parted ways with their villa hunks.

One fan penned: “Sounds like another break up.”

Another fan wrote: “The healing journey continues.”

Meanwhile, a third fan said: “They’re joking, rage baiting I love it.”

Whitney’s man Yamen first sparked split rumours earlier this week following a bold social media post to his “exes.”

He shared a montage of him in various places around the world and added: “Never block your ex. 

“Always let them see what they missed out on.” 

Stunning blonde Millie also made waves this week when she replied to a fan’s message asking if she was ok.

Millie said: “I am all good… I do feel like I have been very quiet with content and haven’t been posting much on any platform really. 

“I was away for a whole month and then last week was really busy with work and things I couldn’t actually show you guys. 

“And then catching up with friends and family and I didn’t want my phone to be in my face or their faces… big catch ups were needed.”

Rushing to the comments fans were quick to point out that she didn’t mention Zac at all.

Both Whitney and Millie are yet to officially address the rumours.

US President Donald Trump has called Cuba ‘a failed nation’, as his administration expands its pressure campaign. Cuba has announced it’s getting rid of its fixed prices at the petrol pump as fuel shortages and power cuts worsen.

Senator Hawley plans legislative action supporting President Trump’s bid to waive the petrol tax amid rising consumer costs.

United States President Donald Trump said he will cut the 18-cent federal tax on petrol to offset surging prices that have continued to soar after his comments that the US ceasefire with Iran is on “life support”.

On Monday, Trump said he would suspend the petrol tax, but did not specify an end date.

“Yup, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in,” Trump told CBS News.

Trump later told reporters that he would waive the tax, which generates $2.5bn in funds used for US roadway infrastructure, “till it’s appropriate”.

The US administration hinted at the idea on Sunday, when US Energy Secretary Chris Wright told the NBC News programme Meet the Press that the White House was considering suspending the tax.

While the Republican president claimed he would waive the tax, that is not within the White House’s authority. Suspending a federal tax requires an act of the US Congress.

However, key Trump ally Senator Josh Hawley, a Republican from Missouri, said on the social media platform X that he would introduce legislation on Monday to do that.

In March, Senator Mark Kelly, a Democrat from Arizona, proposed suspending the tax until October.

“I anticipate it would pass, but there could be a procedural delay. It also suggests that President Trump doesn’t see a quick end to the reduced volumes and is trying to cushion the American consumer,” Rachel Ziemba, adjunct senior fellow at the Center for a New American Security, told Al Jazeera.

“The impact could be greater in states that have also reduced their own petrol taxes and could reinforce differentiation between petrol prices by region.”

US states also tax petrol, with Indiana, Kentucky and Georgia moving to make cuts to give consumers some relief at the pump.

Petrol prices have continued to climb since the initial strikes of the US-Israel war on Iran on February 28. The average price for a gallon (3.78 litres) of regular petrol is $4.52, according to the American Automobile Association, which tracks daily petrol prices, compared with $2.98 when the strikes first began.

However, news of the stumbling ceasefire has sent oil prices surging. Brent crude futures were up $3.17, or 3.13 percent, at $104.46 a barrel, while US West Texas Intermediate crude was at $98.32 a barrel, up $2.90, or 3.04 percent. Brent reached a session high of $105.99 and WTI hit a peak of $100.37.

On Wall Street, stocks for oil and gas giants are trending upward. Shell was up 1.6 percent in midday trading, Exxon rose 3.1 percent, BP gained 2 percent, and Chevron climbed 1.7 percent.

Airline bailout?

Trump was also asked by CBS on Monday whether a bailout was planned for the airline industry, which has taken a hit since the war on Iran began.

The president told the outlet that a bailout had not “really been presented” and that “the airlines are doing not badly”.

However, earlier this month, budget carrier Spirit Airlines ceased operations after 34 years. Court documents said the airline shut down because of “recent geopolitical events resulting in a massive and sustained increase in fuel prices”.

That comes as other major US carriers raise prices. In April, United Airlines said it would raise fares by 20 percent amid a surge in jet fuel costs.

An important update for family holiday plans

Holidaymakers planning trips to Mediterranean hotspots are being met with an enticing development as airlines grapple with concerns over possible jet fuel shortages this summer.

Ticket prices on major routes to destinations across Spain, Italy and France have tumbled by double digits – and in some instances drastically – as carriers attempt to entice hesitant travellers into making bookings. Costs have declined by 10% or more on 15 sought-after routes, including flights from Heathrow Airport to Nice, Manchester to Palma, and Gatwick Airport to Barcelona.

In the most striking case, fares between Milan and Madrid have nosedived by as much as 44%, according to analysis by the Financial Times.

The unexpected price cuts arrive as airlines wrestle with a decline in bookings, with numerous travellers postponing holiday arrangements amid warnings that jet fuel supplies could face disruption following tensions related to the closure of the Strait of Hormuz.

Industry insiders say consumers are holding fire, creating a high-stakes “confidence game” as airlines cut prices aggressively to fill seats before the peak summer holiday period.

One airline boss compared the present climate to the uncertainty experienced during the Covid pandemic, cautioning there remains “a lack of visibility” over how the situation will develop.

Analysis of fares between early April and early May reveals prices dropping on more than half of the busiest routes to southern Europe, particularly to seaside destinations around the Mediterranean. Significantly for families, the steepest reductions are being witnessed on traditional summer routes, with eight of the top 50 routes recording decreases of 20% or more. In contrast, only a small number of routes have experienced similarly sharp rises.

Travel industry insiders told the FT that holidaymakers were “freezing in the headlights”, resulting in them making reservations later than normal or opting for UK getaways instead.

READ MORE: UK officials issue 2026 Summer holiday fuel shortage update for families

Research indicates one in five Britons has already switched an overseas holiday for a domestic break this year, with another fifth contemplating doing likewise.

Airlines are now being compelled to boost demand through reduced fares even as fuel expenses climb and timetables are scaled back. Approximately two million seats have already been removed globally from May timetables, reflecting both elevated costs and weaker demand.

Low-cost carriers including easyJet and Wizz Air have acknowledged that passengers are making bookings later, while also seeking to reassure travellers.

EasyJet has committed not to impose fuel surcharges on existing package reservations, while British Airways has guaranteed prices will not increase after holidays are settled.

Despite the unpredictability, industry insiders emphasise the overwhelming majority of flights are still anticipated to run. Even in a worst-case scenario, only approximately 5% to 15% of flights could be axed and passengers would probably be transferred onto alternative services.

BRITISH Airways passengers face higher fares after its parent company warned rising oil prices will add about £1.72billion to its fuel bill this year.

International Airlines Group (IAG), which also owns Iberia and Aer Lingus, said it expects to pass on part of the extra cost through ticket prices, with business class and other premium long-haul passengers among those most likely to be affected.

Chief executive Luis Gallego said airlines need to increase fares to help offset fuel costs, which make up about a quarter of their spending.

The rise follows disruption linked to the Middle East conflict and the closure of the Strait of Hormuz, which normally carries about a fifth of the world’s oil and gas shipments.

IAG warned the crisis could deepen if the strait remains blocked, with global jet fuel supplies potentially restricted.

However, the group said it does not expect any disruption to summer fuel supplies.

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Mr Gallego said there is less jet fuel coming from the Middle East, but there are “other places with record supply” such as the US.

He said IAG has been “planning for situations like this for many years”, and has invested in its own jet fuel supply at its “main hubs”.

The company recorded a pre-tax profit of £365million during the three months to the end of March.

That was a 76.6% increase from £207million a year earlier.

The group now expects its annual fuel bill to reach £7.78billion.

Mr Gallego attributed the firm’s “strong first quarter” to “continued strong demand for our networks and airline brands”.

He added: “IAG is uniquely positioned to navigate the current headwinds created by the Middle East conflict thanks to our leading positions across diverse markets, strong brands, structurally high margins and strong balance sheet, as well as a strong track record of execution.”

IAG said about 3% of its capacity was “exposed to the Gulf region” at the start of the war on February 28, mostly with British Airways flights.

A large part of this has been redeployed, including boosting capacity at destinations where there are now fewer flights by Middle East carriers such as Bangkok, Singapore and the Maldives.

British Airways has also announced additional flights this summer on routes with higher demand for direct flights, such as India and Nairobi.

The International Air Transport Association (Iata) has urged its European members to consider switching to US-made jet fuel amid rising concerns over possible shortages caused by the Iran oil crisis

European airlines should contemplate switching to US-manufactured jet fuel amid mounting worries over shortages triggered by the Iran oil crisis, a trade body has warned. The International Air Transport Association (IATA), which represents carriers, said its European members could “ease some pressure” by altering the type of fuel they use.

Commercial aviation mainly depends on two fuel grades: Jet A-1, which is utilised across most of the world, and Jet A, which is chiefly used in North America. They are comparable, with the principal distinction being that Jet A-1 has a lower maximum freezing point, offering greater versatility on long-haul and polar routes.

Jet A is predominantly manufactured outside the Gulf, from where fuel supplies are restricted by Iran’s limitations on tankers passing through the Strait of Hormuz. IATA’s director of flight and technical operations, Stuart Fox, stated in a blog that using Jet A “could give airlines facing a possible shortfall in fuel supply more options”.

He proposed this could “help the industry make better use of the fuel we have” and “keep schedules intact”. He continued: “Fuel supply could come under pressure if the war in the Middle East continues.

“Using Jet A, which is produced at scale outside the Gulf, could be a practical way to help ease some pressure on existing supply chains.

“This would have to be done through a controlled transition from one approved fuel grade to another. In normal times, that flexibility might not be noticeable. But in today’s circumstances it’s critical to keeping the whole system moving.”

Mr Fox noted that airlines looking to switch from Jet A-1 to Jet A would need to implement crucial safety precautions, including accounting for the higher freezing point and ensuring crew members are fully briefed on which fuel is on board.

On Friday, British Airways’ parent company International Airlines Group cautioned that its profits would take a hit, anticipating spending approximately two billion euro (£1.72 billion) more than budgeted on fuel this year. Chief executive Luis Gallego stated that he does not believe the group will experience “any interruption for the summer” with regard to fuel supply.

JET fuel restrictions could hit airlines on a global scale, a major airline owner has warned.

International Airlines Group (IAG), who owns British Airways, Iberia and Aer Lingus, initially said that most of its airlines will unaffected this summer.

However, they warned that if the crisis continues, shortages will result in restrictions across the globe.

They said: “If the current conflict continues to restrict flows of both crude oil and jet fuel from the Middle East, there is the potential for supplies of jet fuel to be restricted on a global basis.

“We are engaging with governments in each of our home markets as well as with the EU to ensure that the industry is getting the support it needs to navigate this situation.”

IAG has said they expect their profit to be lower than anticipated. It also expects spend more than £1.72billion extra on fuel costs that previously predicted.

Read more on flight crisis

FINAL CALL

All of the airlines that have been forced to close this year

FUEL FEAR

All the airlines that have cancelled flights amid jet fuel shortage holiday fears

The closure of the Strait of Hormuz since March has resulted in fears of fuel shortages, and caused airlines to start hiking prices.

Some airlines, such as Lufthansa, Scandinavian Airlines and Cathay Pacific, have already reduced their flights scheduled for the upcoming months in an attempt to avoid cancellations caused by shortages.

Other airlines like Air France and Virgin Atlantic have already increased the cost of flights.

Despite the warnings, UK airlines have said they are not expecting to be affected by cancellations this summer.

Tour operators including Jet2 and TUI have said they are operating a full schedule as planned.

And IAG said that 70 per cent of the company has hedged fuel for the rest of 2026.

Here are all the airlines that have cancelled flights due to the jet fuel crisis.

The Department for Transport has also given its latest advice

People from the UK heading abroad for the Spring Bank Holiday are being given the latest advice on holidays amid growing fears over jet fuel shortages and flight disruption. Travel experts say flights are continuing to operate “as planned” despite airlines across Europe drawing up contingency measures following soaring fuel prices linked to conflict in the Middle East.

Concerns have grown after reports that some airlines are preparing for possible refuelling stops on long-haul routes if shortages worsen. German airline Lufthansa has reportedly already begun contingency planning after one of its flights was forced to divert for fuel during a recent journey to South Africa.

The airline has also cut thousands of flights from its wider summer schedule as fuel costs continue to rise. However, travel industry figures insist UK holidaymakers should not panic.

Mark Tanzer, Chief Executive of ABTA – The Travel Association, said: “We really don’t want people worrying about their holidays; planes are taking off daily and people are continuing to get away on their holidays. The Government and airlines are clear that there isn’t a problem with fuel supply.

“If you have a holiday booked in for the coming months – including the May half term – we expect it to go ahead as planned.”

He added: “Whilst there have been reports about cancellations globally, these amount to less than one per cent of overall flights.”

According to aviation analytics firm Cirium, around 13,000 flights worldwide have reportedly been cut during May. Munich and Istanbul are believed to be among the worst-affected destinations.

The Department for Transport has also said there is currently “no need” for travellers to change their plans. Officials say UK airlines buy fuel in advance and airports continue to maintain reserves to help prevent disruption.

Passengers are still being advised to check flight updates with airlines before travelling and ensure they have suitable travel insurance in place. Some 120 flights from the UK this month have been cancelled, new figures show, as jet fuel prices surge and fears of shortages grow.

Cirium said airlines have axed 120 of the 22,613 departures initially scheduled from UK airports in May, equivalent to 0.53%. The number of outbound flights planned for June is 36 lower than a week ago. This represents a 0.2% reduction and means capacity for the month has fallen by 7,972 seats.

The final week of May is a peak period for holidays as it is half-time at many schools. For all flights globally, some 13,005 planned for May were cancelled between April 10 and April 21, equivalent to 1.5%. That reduced capacity by almost two million seats.

Julia Lo Bue-Said, chief executive of Advantage Travel Partnership, a network of independent travel agents, said airlines are “assessing poor performance flights and consolidating or cancelling as required”.

She added that UK departures to popular summer hotspots “remain unaffected” and insisted “customers can continue to book with confidence”. Paul Charles, founder of travel consultancy The PC Agency, said: “Airlines are now being forced to cut flights and make difficult decisions ahead of the peak season.

“It is better for them to cancel flights well in advance so that passengers are less inconvenienced than a last-minute change of plan. As the Iran conflict continues, there will need to be many more cancellations as the jet fuel supply is squeezed.”

Lufthansa’s airline group announced in April it would cancel 20,000 flights over the following six months to save fuel. Iran continues to have a stranglehold on tankers passing through the Strait of Hormuz, leading to a surge in oil prices and concerns of jet fuel shortages.

But on Sunday, Transport Secretary Heidi Alexander said summer holiday plans will not face major disruption because of the latter. She revealed that more fuel has been imported from America, while refineries have upped their production.

The Government has also introduced a temporary rule change allowing airlines to group passengers from different flights together on to fewer planes to save fuel.

A MAJOR airline boss has said that the ongoing fuel crisis is causing more problems than Covid did.

AirAsia chief executive Tony Fernandes said the quick increase in jet fuel overnight was “much worse”.

He told the FT: “I thought I’d seen it all with Covid but having seen jet fuel go up almost three times – this is much worse.

“You wake up one day and your major cost has tripled – it was quite a new experience for me and I’ve been through a lot in my life.”

This was backed by the Chancellor of Germany earlier this year who said if it continues, it would affect the European economy as “heavy as we recently experienced during the Covid pandemic”.

The closure of the Strait of Hormuz since March has already caused problems for airlines, due to shortages of fuel.

FUEL FEAR

All the airlines that have cancelled flights amid jet fuel shortage holiday fears

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Airlines have been forced to cancel thousands of seats, with European airlines such as Lufthansa and Scandinavian Airlines already scrapping routes this month.

Globally, major airlines such as United, Cathay Pacific and Emirates have all reduced capacity as well.

Data from Cirium estimated that there were two million fewer seats on sale in May compared to predicted.

American budget airline Spirit Airlines was even forced into administration, citing the higher jet fuel costs as a major cause.

Thankfully, UK airlines are yet to be massively affected, with most tour operators confirming that holidays are still going ahead as planned.

The only disruption is to the Middle East with destinations like Dubai still on the travel ban list.

On The Beach has even launched a new initiative for travellers this summer, where, if their flight is cancelled, they will get a refund on the same day.

However, Ryanair boss Michael O’Leary warned that unless fuel prices dropping, airlines are at risk of failing this summer.

According to Politico, he said: “If pricing stays higher for longer this summer, we think a number of our airline competitors in Europe are going to face real financial difficulties. I think there will be failures.”

To protect passengers from last minute travel chaos, the Department for Transport has also revealed new measures which will allow airlines to cancel flights up to two weeks in advance, without losing their airport slots.

Transport Secretary Heidi Alexander said it would “give families long-term certainty and avoid unnecessary disruption at the departure gate this summer.”

But Which? Travel Editor Rory Boland warned: “Many passengers will understand that disruptions can occur and may be happy to travel a few hours or a day later.

“But for those on short trips or connecting flights it could mean the trip is no longer worthwhile.”

ASEAN leaders have begun meeting in the Philippines as residents near the summit venue say their main concerns are soaring fuel prices and living costs. The regional bloc enters what officials describe as a “stress test decade”, facing issues stemming from the Iran conflict since so many member states are heavily reliant on energy from the Gulf.

Published on
06/05/2026 – 15:39 GMT+2

The surge in jet fuel prices has become a primary concern for the European travel industry, with Lufthansa finding itself at the centre of this crisis.

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According to Lufthansa’s latest earnings report, the airline expects an additional €1.7 billion ($2bn) fuel cost burden in 2026 as soaring jet fuel prices continue to weigh on the industry.

The need to avoid certain airspaces has led to longer flight times, which naturally increases consumption. These adjusted routes also require more staff hours and higher maintenance cycles, adding layers of complexity to an already strained global supply chain.

As reported by Euronews, global airlines have already cancelled approximately 13,000 flights this May, while Lufthansa alone has axed 20,000 short-haul flights through to October in a bid to cut fuel consumption.

This reduction in capacity is a direct response to the unsustainable cost of operating older, less fuel-efficient aircraft during price peaks.

While Lufthansa has managed to stay profitable, the jet fuel price spikes have forced the firm to advise passengers to book their holidays as early as possible to avoid further surcharges.

The company is currently investing heavily in its “fleet modernisation” programme to mitigate these risks in the long term, though the immediate impact of fuel volatility continues to weigh on the balance sheet.

Lufthansa remains committed to its financial targets, but the volatility of the global oil market remains the largest variable in its 2026 outlook.

“We are satisfied with the first quarter […] at the same time, the current situation compels us to rigorously examine every lever available to reduce costs, improve efficiency and mitigate risks in order to maintain our ability to act decisively. Our annual profit will likely be lower than originally anticipated,” CFO Till Streichert stated.

The Lufthansa Group has announced a landmark financial performance, revealing that it generated the highest revenue in its history in 2025. Revenue rose by 5% compared with the previous year to €39.6 billion.

According to the latest figures, the airline group also saw its operating profit grow by 20% compared with 2024, highlighting a robust recovery in passenger demand.

In the first quarter of 2026, year-on-year revenue climbed 8% despite challenges linked to the conflict involving Iran, including €1.7 billion in additional costs caused by volatile jet fuel prices and the suspension of dozens of routes.

The firm kept its capacity broadly stable with slight growth in long-haul traffic compensating for capacity reductions in short and medium-haul segments.

Lufthansa Technik and Lufthansa Cargo also significantly contributed to earnings with demand for maintenance, repair and overhaul services increasing, as well as through the marketing of ITA Airways’ cargo space.

Global demand for air travel remains high and continues to prove resilient even in times of crisis, as Lufthansa Group again expects a strong summer travel season.

“In the first quarter, we significantly improved on the previous year’s financial results […] but the ongoing crisis in the Middle East, combined with rising fuel costs and operational constraints, poses enormous challenges for the world as a whole, for global air travel and for our company as well,” CEO Carsten Spohr stated.

“However, we are resilient in our ability to absorb these impacts. This applies both to our above-average hedging against fuel price fluctuations and to our multi-hub, multi-airline strategy, which provides us with greater flexibility in our route network and fleet development,” Spohr added.

The UK Government has relaxed a rule for airlines which could see some summer flights dropped to save jet fuel

Travellers could find their UK flights rescheduled as the Government relaxes a particular rule that airlines rarely risk breaking. Holiday-makers should be aware that their plans may be changed to avoid journeys that would result in “wasted fuel”.

Transport Department officials say airlines may consider scrapping certain services following the introduction of a temporary rule change that allows carriers to merge flights and combine passengers. The idea is meant to cut the total number of aircraft departing, aiming to preserve jet fuel and provide holidaymakers with reassurance that trips won’t be cancelled altogether.

Rather than axing flights at short notice, the idea is to “reduce wasted fuel from flying near-empty planes”. To maximise the use of airport departures, airlines would reassess their schedules and could transfer passengers from under-booked services that haven’t sold a decent proportion of seats onto similar flights.

The Government claims these “contingency preparations” are meant to “give families greater confidence when travelling this summer”. While airlines have always been able to cancel and rebook flights, doing so typically came with a future risk to their business, reports the Express.

Addressing the update, Transport Secretary Heidi Alexander said: “Since the closure of the Strait of Hormuz, the government has been monitoring jet fuel supplies daily and working with airlines, airports and fuel suppliers to stay ahead of any problems. There are no immediate supply issues, but we’re preparing now to give families long-term certainty and avoid unnecessary disruption at the departure gate this summer.

“This legislation will give airlines the tools to adjust flights in good time if they need to, which helps protect passengers and businesses. We will do everything we can to insulate our country from the impact of the situation in the Middle East.”

The measures being considered by the government go further by enabling airlines to plan ahead and act on the most reliable information available on fuel supply or the wider ramifications of the Middle East conflict, rather than waiting for shortages to materialise. The government remains engaged in planning for various contingencies to boost flexibility around jet fuel supply, and domestic jet fuel production has risen. The UK sources jet fuel from multiple countries that don’t rely on the Strait, including the United States.

Explaining how flight consolidation works, TikTok user and travel specialist Kate Donnelly (@Thedonnellyedit) said: “If an airline has four flights operating to the same destination across a day, they might look at them and see two are half empty, so they might combine them and cancel one of those flights altogether. This would mean they are obviously saving on the amount of jet fuel they are using and overall cost.”

If a flight experiences a significant delay, passengers are entitled to care and assistance, including food, drink and overnight accommodation where necessary. Generally, delays that warrant this include at least two hours for short-haul, three hours for medium-haul and four hours for long-haul.

Rob Bishton, chief executive of the UK Civil Aviation Authority, said: “Passengers in the UK are well protected by some of the strongest rights in the world, offering reassurance if disruption does occur. Airlines have a duty to look after their passengers when they face disruption, and should offer a choice between a refund or alternative travel arrangements, including with another airline, if a flight is cancelled.

“Relaxing the rules around slots at airports will allow airlines more flexibility and so we expect them to give passengers as much notice as possible of cancellations during this period.”

If the airline cancels your flight, you’re legally entitled to a choice between being rerouted or receiving a refund. Find out more about your rights following a flight cancellation here.

Public workers blocked the streets of El Alto, Bolivia with buses, cars, and trucks during a national transportation strike. Union leaders are demanding the government guarantee clean fuel, end long lines at petrol stations, repair roads, and compensate drivers for repeated engine repairs.