Hormuz Strait Disruption and High Jet Fuel Costs Lead Airlines to Cancel Flights
Disruptions near the Strait of Hormuz are severely impacting global jet fuel supplies and oil prices, leading to European refineries selling fuel at a loss. Consequently, airlines are cutting flights and raising fares, with one major international airline canceling flights out of Los Angeles due to high fuel costs.
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This chart on oil prices shows why Qantas and Virgin are cutting flights and raising fares
Price of jet fuel has climbed by 125% since start of Iran war – giving Qantas and Virgin a big challenge as fuel accounts for a fifth of expenses Get our breaking news email, free app or daily news podcast Thanks to the US-Israel war on Iran, filling up your car with petrol costs about 40% more than it did in February, and for diesel vehicles it’s closer to 80%. But even those painful increases pale in comparison to the extraordinary rise in the price of jet fuel, which has climbed by a 125...
By Patrick Commins
Read full article →Jet fuel supplies are sharply affected by the near-closure of the Strait of Hormuz
The reduction in ship traffic through the Strait of Hormuz has had an outsize impact on global jet fuel supplies. Prices have doubled.
By Camila Domonoske
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