Could flights become a luxury again? Iran war pushes jet fuel prices up

Global jet fuel prices have surged since the start of the war involving Iran, triggering flight cancellations, airline failures and renewed debate over the future of fossil-fuel aviation, according to a report by The Guardian.

The report said jet fuel prices have doubled in recent months as disruption linked to the Strait of Hormuz rattled global energy markets. While experts say the world is unlikely to physically run out of aviation fuel, prolonged instability could sharply increase costs and disrupt air travel worldwide.

“Jet fuel has doubled in price over the last two months or so, which is horrendous,” Prof Rafael Palacios of Imperial College London said. “It is roughly the same cost as the petrol you use in your car was last year.”

The Strait of Hormuz handles a significant share of global oil and aviation fuel shipments. Richard Green, professor of sustainable energy business at Imperial College London, said supply losses would be manageable overall, noting: “The world uses about 100m barrels of oil a day,” while the actual shortfall could amount to “five or 10 out of 100.”

Several airlines have already responded to rising fuel costs. Lufthansa announced it was cutting 20,000 flights, while Spirit Airlines ceased operations. Virgin Atlantic and IAG, the parent company of British Airways, also warned of fare increases.

Stefan Kreuzpaintner, a senior vice-president at Lufthansa, said: “When we talk about fuel, there’s basically two things. One is that the price increases, which makes the cost base for airlines more challenging.”

Industry analysts said travellers were becoming increasingly cautious. Jenny Southan, founder of Globetrender, said: “People are still travelling, but they are choosing places that feel easier, safer or more predictable.”

The crisis has also intensified discussion about alternatives to fossil-fuel aviation, including synthetic fuels and hydrogen-powered aircraft. Palacios said: “If money was not an issue, the technology exists.”

However, he warned that transitioning aviation away from kerosene-based fuels would require major investment and infrastructure changes, adding: “It’s a 50-year order of magnitude for this transition.”

By Aghakazim Guliyev