Airports have warned that a ‘systemic’ jet fuel shortage will ‘become a reality’ if the Strait of Hormuz does not reopen within three weeks.
A letter sent by the Airports Council International (ACI), a trade body representing more than 600 airports, to the EU warned that shortages could hit very soon – just as we enter peak summer holiday season.
It read: ‘The fact that we are entering the peak summer season… is only adding to those concerns.’
The letter, addressed to the European commissioners for energy and transport & tourism, warned of the potential travel chaos that could ensue amid the ongoing conflict in the Middle East.
Jet fuel reserves are already running low and airports will be gripped by ‘systemic’ shortages of jet fuel if the passageway is not fully reopened by the end of the month, airport bosses warned.
The strait, through which 20 per cent of world oil flows, has been choked shut by Iran since the start of the war six weeks ago.
Oil prices have surged globally as a result and sparked fears of a global economic crisis.
The reopening of the waterway was a key part of Donald Trump’s peace deal with the Iranian regime.
Summer holiday plans could be plunged into chaos as European airports face jet fuel shortages in just three weeks as the Strait of Hormuz remains shut
The strait, through which 20 per cent of world oil flows, has been choked shut by Iran since the start of the war six weeks ago
But days later it remains blocked, with Iran warning vessels they will have to pay a toll of up to $2million per journey or face destruction.
Now airport chiefs fear fuel rationing could be imposed within the EU and the peak summer tourism season could be affected, with suppliers unable to guarantee fuel deliveries into May.
The body’s director-general Olivier Jankovec wrote: ‘At this stage, we understand that if the passage through the Strait of Hormuz does not resume in any significant and stable way within the next three weeks, systemic jet fuel shortage is set to become a reality for the EU.
‘The fact that we are entering the peak summer season… is only adding to those concerns.’
Supplies of jet fuel – which is used to fly planes – from the Middle East have been disrupted since the US-Israel’s war with Iran because of Iran’s effective closure of the Strait of Hormuz, a critical international shipping route.
This has led to soaring prices and warnings that flights could be affected because of Europe’s reliance on fuel imports from around the world.
Analysts have also said higher jet fuel prices can be quicker to pass through to airfares than road fuel and household energy costs.
Ryanair’s boss Michael O’Leary said earlier this month that if the war continues, then there was a risk of ‘disruptions in Europe in May and June’, adding that ‘maybe 10 per cent, 20 per cent, 25 per cent of our supplies might be at risk’.
Sir Keir Starmer has been visiting allies in the Gulf for talks on how to support what he described as a ‘fragile’ ceasefire between the US and Iran, which was agreed this week.
He spoke to US President Donald Trump about the need for a ‘practical plan’ to get shipping going through the Strait of Hormuz amid suggestions Tehran wants to charge vessels for passage.
In its letter, the ACI said jet fuel supply for the next six months needed to be urgently monitored by the European Commission, including identifying action that can be taken to increase production within the EU.
It also asked them to consider temporarily lifting restrictions and regulations that limit the ability to import jet fuel.
Mr Jankovec warned on behalf of the body: ‘This crisis has exposed the reduced refining capacity of the EU for jet fuel production, and its acute dependence on imports from other world regions.’
Susannah Streeter, chief investment strategist for Wealth Club, said: ‘Carriers have had to deal with a more than doubling of fuel costs since the conflict erupted and the threat of shortages lingers.
‘As the war has put a chokehold on supplies from the Middle East, it has caused other nations which produce jet fuel to impose export bans, causing trade to seize up further.
‘It will take time to unwind panic positions, and for jet fuel prices to stabilise, so airlines are likely to continue to pass on the cost to passengers for the foreseeable future.’