The price of aviation fuel in Europe has significantly risen amidst the Middle East crisis
The price of aviation fuel in Northwestern Europe has more than doubled, posing a risk of shortage amidst the current instability in the region.
Since the beginning of the conflict in the Middle East, the cost of aviation fuel in Europe has increased to 1,573 dollars per ton compared to 750 dollars before the onset of hostilities. This significant price increase may lead to a systemic fuel shortage at European airports if shipping through the Strait of Hormuz is not resumed soon. Representatives of Airports Council International Europe expressed concern in a letter to the EU, emphasizing the importance of monitoring the situation.
European airports, particularly in Italy, have already faced refueling restrictions for commercial flights due to fuel shortages. This is happening as the peak tourist season approaches, where the functioning of air transport is critical for EU economies.
Uncertainty in the market further intensifies calls for action from European institutions. In particular, the possibility of introducing a new tax to stabilize the energy market situation amidst rising fuel prices is being considered.
| Indicator | Before the conflict | After the conflict |
|---|---|---|
| Price of aviation fuel (per ton) | 750 dollars | 1573 dollars |
