European airports warn: Jet fuel prices remain high, no guarantee for May deliveries

(Patria) - European airports face a shortage of jet fuel if the Strait of Hormuz is not fully reopened to traffic within the next three weeks, the aviation industry has warned. The organisation ACI Europe, which represents airports in the EU, said that jet fuel reserves are running low, while supply is further strained by "the impact of military activities on demand".

In a letter addressed to European Transport Commissioner Apostolos Tzitzikostas, which the Financial Times has seen, ACI Europe warns of "the aviation industry's growing concern over the availability of jet fuel, as well as the need for proactive monitoring and action by the EU".

It adds that concern is heightened by the approaching peak of the summer season, "when air traffic drives the entire tourism ecosystem on which the economies of many EU member states depend".

Some Asian countries, such as Vietnam, have already begun rationing jet fuel consumption due to shortages. Europe has so far not faced widespread shortages, but fuel prices have doubled, and airlines have warned of possible flight cancellations. Despite the announcement by US President Donald Trump of a two-week ceasefire in the Iranian war, global oil prices have remained high.

According to data from Argus Media, reference prices for jet fuel in northwestern Europe stood at $1,573 per tonne on Thursday, a drastic increase from approximately $750 per tonne before the start of the war in Iran. Suppliers cannot guarantee deliveries in May.

Last weekend, four Italian airports imposed restrictions on jet fuel following problems at one of the key suppliers. Although that shortage was not directly linked to the Strait of Hormuz, through which about 40 percent of the world's jet fuel supply passes, it highlights the fragility of the system. In its letter, ACI Europe requested the establishment of supply monitoring at the level of the entire European Union to help the industry coordinate its response to the crisis.