Wednesday 04/March/2026 – 06:45 PM
Global jet fuel prices have risen to their highest levels since 2022, exceeding… The rise of crude oil As a result of the repercussions of the Iranian war.
Global aviation fuel prices
Prices in Europe, the United States and Asia recorded historic jumps, as the price of fuel in northwestern Europe compared to crude reached a record level exceeding $70 per barrel.
Analysts attributed this rise to disruption in global supply chains and airlines being forced to take longer routes, which threatens to fuel global inflation and increase the cost of travel and air freight.
The European Union market is considered the most at risk, as half of its aviation fuel imports pass through the Strait of Hormuz, compared to only about 12% of diesel imports.
As the crisis continued, refineries in Asia, including the Indian Mangalore Company, began to suspend their exports of petroleum products as a result of the faltering arrival of crude shipments from the Gulf, which threatens a severe shortage in global supplies and exacerbates pressure on the aviation sector, which is already exhausted by fluctuations in energy costs.
Challenges facing Trump’s economic agenda
The sudden rise in the prices of fuel and basic commodities such as aluminum and diesel raised questions about the effectiveness of American promises to secure navigation in the Gulf.
Despite President Donald Trump’s pledge to provide military escort and insurance guarantees for ships, the shipping sector sees these steps as partial solutions that do not guarantee price stability, and this sharp inflation in energy costs constitutes a direct challenge to the US administration’s agenda seeking to support economic growth and reduce domestic inflation rates.
In Asia, the spread between jet fuel and diesel prices widened to its widest range since 2023, reflecting the scarcity of jet fuel in spot markets.
With the possibility of additional reductions in production operations at Asian refineries, investors are monitoring the ability of the markets to absorb this shock, in the absence of a clear timetable for the resumption of normal flows through the Strait of Hormuz, which is threatened by a long closure.
