""This is an Asian crisis," says George Shaw, an analyst at the trade analytics firm Kpler. "They're in a worse position than anyone else.""
""If significant and stable passage doesn't resume through the Strait of Hormuz by the end of April, systemic jet fuel shortage is set to become a reality for the EU," warns the Airports Council International Europe."
""It's really a double whammy," Shaw says, referring to the supply shocks affecting both finished jet fuel and crude oil shipments."
Jet fuel prices have doubled since the onset of the war in Iran, prompting airlines to increase fares, cut routes, and impose additional fees. In Asia, countries are rationing fuel and limiting exports due to severe supply shocks. The Airports Council International Europe warned of potential systemic jet fuel shortages in the EU if passage through the Strait of Hormuz does not stabilize. The disruption affects both the supply of finished jet fuel and the raw crude oil needed for production, creating a significant crisis in the aviation sector.
Read at www.npr.org
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