fuel

Europe is facing a severe jet fuel crisis due to the Middle East conflict, with International Energy Agency chief Fatih Birol warning the region has ‘maybe six weeks or so’ of jet fuel left and that flight cancellations could follow

Europe has just six weeks’ worth of jet fuel remaining due to the ongoing Middle East conflict, with major airlines grounding flights.

Fatih Birol, executive director of the International Energy Agency (IEA), warned that flight cancellations could follow “soon” if oil supplies continue to be restricted by the Iran war. Iran maintains a firm grip on tankers navigating through the Strait of Hormuz, with Mr Birol telling the Associated Press this is triggering “the largest energy crisis we have ever faced”.

He warned that Asian nations such as Japan, India and China, which depend heavily on Middle Eastern energy supplies, are on “the front line”, with the pressure set to “come to Europe and the Americas” shortly after.

Europe has just six weeks of fuel left, according to the IEA director. He added that if the Strait of Hormuz remains blocked, the knock-on effect could mean “some of the flights from city A to city B might be canceled as a result of a lack of jet fuel”.

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Which airlines are cancelling flights?

A number of airlines have warned that they might have to cancel flights if the situation continues, but the number of those that have already done so is fewer.

Swedish flag carrier SAS has said it would cancel 1,000 flights in April because of high oil and jet fuel prices, after cancelling a “couple hundred” flights in March.

United Airlines said that five per cent of flights would be cancelled in the second and third quarters of 2026, while Dutch airline KLM has cancelled 160 flights for the coming month.

South Korean airline Asiana will slash 22 flights between April and July due to the fuel cost increase.

Hong Kong airline Cathay Pacific will cut some flights from mid-May until the end of June, with about 2% of its scheduled passenger flights grounded. Its budget airline HK Express is cutting around 6% of flights.

German airline group Lufthansa said it would ground 27 planes servicing its short-haul CityLine subsidiary earlier than it had planned, blaming jet fuel prices.

Vietnam Airlines plans to cancel 23 flights per week across domestic routes from April.

Air New Zealand will be cutting back on flights over the next two months, it announced in March. It is expected that 1,100 flights will be impacted.

Norse Atlantic Airways has removed all flights to Los Angeles International Airport from its summer schedule, blaming the fuel shortage.

Although major airlines including British Airways, Ryanair and easyJet have highlighted the potential impact of the fuel price rise on ticket costs and schedules, they are yet to cancel flights as a direct consequence.

However, BA is stopping its route from London Heathrow to Jeddah, although this is due to a shift in demand, according to the airline.

Last week, easyJet chief executive Kenton Jarvis sought to reassure passengers, stating that all airports the airline serves are “operating as normal”.

He continued: “We only ever in this industry have three to four weeks’ visibility (of jet fuel supplies), and that is the same as it was pre-crisis. We have visibility to the middle of May, and we have no concerns. What we’re seeing is airports and fuel suppliers working well to bring jet fuel to the airports.”

EasyJet revealed the Middle East conflict set the airline back roughly £25 million in elevated jet fuel costs last month. The Luton-based carrier said it anticipates reporting a headline pre-tax loss of between £540 million and £560 million for the six months ending in March.

The conflict has created “near-term uncertainty around fuel costs and customer demand”, easyJet revealed.

Bookings have dropped by two percentage points for the three-month periods ending in both June and September when compared with the previous year.

The alert regarding larger-than-anticipated first half losses sent easyJet shares tumbling by as much as 9% during early Thursday trading, before stabilising around 4% down.

Sparked by the Iran war and the effective closure of the Strait of Hormuz, oil is no longer flowing out of the Middle East as it did earlier this year, which is having a major impact on the aviation industry

Holidaymakers face soaring flight prices and more expensive package breaks even if they’ve already booked because of the looming shortage of jet fuel.

Sparked by the Iran War and the effective closure of the Strait of Hormuz, oil is no longer flowing out of the Middle East as it did earlier this year. Supplies of jet fuel built up by European countries have been severely depleted.

In general, some European countries hold several months’ worth of jet fuel inventory at a time, according to an IEA report released last week. “Every passing day that the Strait of Hormuz remains shut, Europe is edging closer to supply shortages,” said Amaar Khan, head of European jet fuel pricing at Argus Media. “The Strait accounts for around 40% of Europe’s jet fuel imports, but no jet fuel has passed the Strait since the war broke out.”

There are four main ways that the jet fuel shortage could impact British holidaymakers: rising flight prices, extra fees, cancelled flights and package break surcharges. We’ve explained each one below.

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Rising flight prices

Jet fuel — a refined kerosene-based oil product — is airlines’ biggest cost, making up about 30% of overall expenses, according to the International Air Transport Association. And jet fuel prices have roughly doubled since the war began. Shortages could start next.

Already, a number of airlines have started bumping up the cost of tickets.

Just last week, it emerged that Virgin Atlantic had increased some flight costs with an extra £50 fuel surcharge on economy-class tickets, while premium economy fares are climbing by £180 and business class by £360.

Air France and KLM fares are also going up. They are likely to cost an additional €50, bringing the fuel surcharge to €100 (£86.98) on top of the standard fare. Meanwhile, flights to the United States, Canada and Mexico could increase by €70 (£60.89), and an economy round trip could cost an extra €10 (£8.70).

If you’ve already got your flights booked, you don’t need to worry. You are not going to be asked retrospectively to pay extra on your air fare. Once you have paid, the airline will not come after you for any more cash – unless the government hikes aviation fees, which they don’t appear poised to do.

Extra fees

Many passengers will have booked their flights months in advance, before the US and Israel attacked Iran and fuel prices started rising. Because airlines can’t bump up fares that’re already booked but for which they’re now making less money, they have started looking for other ways to make a bit of extra cash.

American Airlines has said it would hike checked baggage fees by $10 (£7.40) each for the first and second checked bags and by $150 (£111) for the third checked bag on domestic and short-haul international flights. Southwest Airlines has said it will hike checked baggage fees by $10 for the first and second bags, raising costs to $45 (£33) for the first bag and $55 (£40) for the second.

As passengers often add extra luggage just before they fly, these rises could impact passengers who booked flights before the invasion.

No major European airlines have made similar changes.

Cancelled flights

Last week, International Energy Agency Director Fatih Birol said Europe has “maybe six weeks” of remaining jet fuel supplies and said the global economy faces its “largest energy crisis.”

Many major airlines have already cancelled flights because of the fuel price rises and falling demand, and more are likely to do so.

Swedish flag carrier SAS has said it would cancel 1,000 flights in April because of high oil and jet fuel prices, after cancelling a “couple hundred” flights in March. United Airlines said that five per cent of flights would be cancelled in the second and third quarters of 2026, while Dutch airline KLM has cancelled 160 flights for the coming month.

Other airlines, such as BA, have suspended whole routes to parts of the Middle East due to the conflict, while Virgin Atlantic announced earlier this month that it would be permanently scrapping its London flight to Riyadh from April.

Under UK law, if your flight is cancelled more than 14 days before it is due to depart, you are not entitled to compensation. However, your airline does have to offer you a full refund or help you find an alternative flight.

In the latter case, it’s up to you whether to fly as soon as possible after the cancelled flight, or at a later date that suits you. Although most airlines will book you onto another of their flights to the same destination, if an alternative airline is flying there significantly sooner or other suitable modes of transport are available, then you may have the right to be booked onto that alternative transport instead. You can discuss this with your airline.

Given that airfares may be significantly higher than when you booked, opting for an alternative flight rather than taking a refund may work out in your favour.

Extra package break costs

A largely overlooked clause in package holiday terms and conditions could result in the price of a package holiday increasing by hundreds of pounds – even after you’ve already made your booking and payment.

An article by Which? drew attention to the obscure clause found within Package Travel Regulations. It reveals that UK holiday companies can impose an additional charge of up to 8% on a package holiday price, without being required to provide a free cancellation option, under three specific circumstances.

These circumstances include: a destination introducing additional taxes or other charges, a significant shift in currency exchange rates, or a rise in the price of fuel or power. Given the ongoing Middle East conflict, fuel costs have been rising noticeably, which means there’s potential for package holiday operators to invoke this rule for Brits who’ve already booked their holidays should these expenses continue climbing.

April 18 (Asia Today) — Average gasoline and diesel prices at South Korean gas stations rose for a third straight week, putting both fuels on the verge of topping 2,000 won per liter.

The average nationwide gasoline price for April 12-18 stood at 1,996.3 won per liter, or about $1.36 a liter and $5.15 a gallon. That was up 28.7 won from 1,967.6 won a week earlier. Diesel averaged 1,990.2 won per liter, or about $1.36 a liter and $5.13 a gallon, up 31.1 won from the previous week.

With both fuels nearing the 2,000 won threshold, the government is set to announce its fourth maximum-price notice on Thursday. The current system partially reflects changes in global oil prices while slowing the pace of retail price increases.

By brand, SK Energy had the highest gasoline price at 2,001.8 won per liter, or about $5.16 a gallon, while self-service budget stations were the cheapest at 1,974.7 won. For diesel, SK Energy was also the highest at 1,995.2 won per liter, while budget stations posted the lowest average at 1,966.1 won.

By region, Jeju had the country’s highest average gasoline price this week at 2,029 won per liter, or about $5.23 a gallon. Seoul followed at 2,026.7 won, or about $5.23 a gallon.

International oil prices have recently eased on expectations that the conflict involving the United States and Iran could wind down. Dubai crude, the benchmark for South Korea’s imported oil, stood at $101.8 a barrel on Wednesday, down $4.7 from $106.5 on Sunday. Changes in global oil prices usually reach domestic pump prices with a two- to three-week lag.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260418010005586