Iran war disrupts jet fuel supplies, raising airline costs and airfares globally

The Iran war and effective closure of the Strait of Hormuz have caused jet fuel prices to roughly double, threatening supply shortages in Europe within weeks. The International Energy Agency warned Europe has approximately six weeks of jet fuel reserves remaining, with some countries holding less than 20 days of supply. Airlines are passing costs to consumers through fare hikes, fee increases, and flight cancellations, while industry consolidation pressures intensify.