Jet fuel prices have soared in recent days as energy exports from the Middle East have been disrupted, hitting the highest level in Europe since the start of the Russia-Ukraine war in 2022.
Old continent jet fuel prices recently hit $1,222.25 per tonne, an increase of about 48% in just two days, according to data reported by Bloomberg.
effects of war
The “jet fuel premium” over crude oil prices in northwestern Europe exceeded $70 per barrel, an unprecedented record level in data tracked by the composite index since 2008.
European Union countries rely on imports from the Strait of Hormuz for 50% of their aviation fuel needs, compared to just 12% for diesel fuel, making Europe’s aviation sector most exposed to the effects of war.
Aviation fuel prices have soared in recent days due to disruptions in energy exports from the Middle East, reaching their highest level in Europe since the start of the Russia-Ukraine war in 2022.
Aviation fuel prices in the Old Continent reached $1,222.25 per tonne, an increase of about 48% in just two days, according to data reported by Bloomberg.
results of war
The “aviation fuel premium” to crude oil prices in northwest Europe has risen to more than $70 per barrel, an unprecedented record in data tracked by the composite index since 2008.
EU countries rely on the Strait of Hormuz for 50% of their aviation fuel needs, compared to just 12% for diesel fuel, making Europe’s aviation sector the most exposed to the effects of war.
