Fuel shortage for aircraft warned - European Commission intervention requested to resolve the situation
Europe could face jet fuel shortages within weeks, airports body warns
Europe's airport industry group has warned that the continent could face a systemic shortage of jet fuel within three weeks if the Strait of Hormuz is not opened, calling for urgent action across the EU to secure supplies ahead of the peak summer travel season.
In a letter to the European Commission, the Airports Council International (ACI) of Europe said a fuel crisis would “significantly damage the European economy,” exacerbating the macroeconomic impact of rising oil prices caused by the conflict in the Middle East.
Air connectivity contributes €851 billion to gross domestic product each year for European economies and supports 14 million jobs, with airports handling 26% of Europe's exports by value, based on data up to 2019 from an ACI study.
A meeting of the European Commission's oil coordination group this week showed that there was currently no EU-wide mapping, assessment or monitoring of jet fuel production and availability.
This body has asked the Commission to intervene and map the current and projected availability of jet fuel against needs, identify alternative sources of imports, assess threats to fuel flows within the EU and assess the levels of commercial and strategic reserves.
Jet fuel prices have more than doubled to $150 to $200 a barrel in recent weeks, a financial blow to an industry where fuel accounts for up to a quarter of operating expenses.
The letter also called for a number of immediate policy interventions, including the temporary lifting of restrictions on jet fuel imports, namely those under the new EU methane regulation, which will enter into force in January 2027.
The body also suggested collective EU purchasing of jet fuel and targeted obligations on refiners to protect production and to include airports, airlines and ground handling providers in state aid in response to the crisis.
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