Jet fuel supplies are lagging. What does that mean for airlines and travelers?

A worker fuels an Air Canada jet at DFW International Airport in Grapevine, Texas, Tuesday, April 14, 2026. (AP Photo/LM Otero, File) 2026-04-16T19:52:09Z NEW YORK (AP) — A looming jet fuel shortage in Europe and Asia sparked by the Iran war and the effective closure of the Strait of Hormuz could further upend world travel within weeks if oil doesn’t start flowing again soon — meaning higher airfares and flight cancellations as the summer travel season approaches. In an exclusive Associated Press interview Thursday, 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.” In general, some European countries hold several months’ worth of jet fuel inventory at a time, according to an IEA report released this week. 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. “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.” Airline officials have largely reacted with caution, acknowledging potential fuel issues but working to reassure customers. Still, some carriers have already passed costs on to consumers by increasing fees for baggage and other add-ons, embedding costs into ticket prices, or raising fuel surcharges. (