Summer is usually a time for active travel. Trends at this point, in April, show that this will be the case again this year, writes Diena.
However, as reported by international media and specialized travel websites, air passengers should be aware of the risks of chaos at airports, higher ticket prices, and even flight cancellations. The problems previously observed in the aviation industry have been exacerbated by the military conflict in the Middle East and the blockage of the Strait of Hormuz.
It is important to understand that the tension in the Middle East creates constraints on the supply of jet fuel used by the aviation industry. At the same time, industry experts point out that even if shipping in the Strait of Hormuz continues without restrictions, it will take some time before oil and jet fuel reach customers in Europe and Asia. It will also take time to resume oil and jet fuel production that was halted due to hostilities that began in the Middle East on February 28 of this year with U.S. and Israeli airstrikes on Iran.
The news agency "Reuters" notes that European airlines are preparing for a challenging summer as concerns grow that fuel shortages could lead to mass flight cancellations. Disruptions in global oil supplies caused by the military conflict in the Middle East have increased prices for long-haul flights from Europe by more than $100 (over 83 euros). This is likely to lead to an increase in ticket prices. The rise in jet fuel prices has increased average fuel costs by 88 euros per passenger on long-haul flights from Europe and by 29 euros on flights within Europe, reports "Reuters".
The cost of jet fuel per passenger for a flight from Barcelona to Berlin could soon rise by 26 euros, while for a transatlantic flight from Paris to New York, it could increase by 129 euros.
Several media outlets quote a warning from the head of the International Energy Agency, Fatih Birol, made on April 16, stating that Europe has only six weeks' worth of jet fuel supplies. The International Energy Agency's report indicates that supplies will reach a critical point in June if Europe cannot replace at least half of its imports from the Middle East with alternative solutions.
In its monthly oil market report, the International Energy Agency, which advises 32 member countries on energy supply and security, notes that exports from the Persian Gulf region are the largest source of jet fuel in the global market. Refineries in Asian countries, such as India and China, also depend on imports of crude oil from the Middle East.
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