EU sees no jet fuel shortage amid price surge, transport chief says

"There ​is currently no jet fuel shortage in Europe. We have no signs that we will have a shortage in ​the coming period," transport commissioner Apostolos Tzitzikostas said in an interview, adding regional airports were most at risk. The main concern is the surge in price. The International Air Transport Association says jet fuel accounts for 25-30% of airlines' operating costs. "This is why we see ​that some airlines are choosing to cancel some of their routes that didn't make any economic sense," Tzitzikostas ​said.Passengers may not feel the full impact in higher fares until later this year or next as airlines' hedges expire, though Tzitzikostas ‌said the ⁠situation was "very different airline to airline".

"It's critical that the war stops and that the Strait of Hormuz opens and this needs to happen as soon as ​possible .... We should always ​keep in mind that Europe ⁠is prepared. We have the emergency stocks in our member states," he said, adding the Commission would coordinate any releases and there was no need to discuss redistributing ​reserves for now."For the time being, there is a certain degree of stability."