Jet fuel it reached record prices. From around $85-90, prices jumped to $150-200 per barrel.
Many airlines around the world have been forced to introduce emergency measures to deal with rising fuel costs, which typically account for 20-40 percent of their operating costs.
Europe has only six weeks worth of jet fuel
Europe gets almost 50 percent of its jet fuel from the Persian Gulf. Most of that fuel, in order to reach Europe, is transported through the Strait of Hormuz, which is due to war in Iran was practically closed.
Refineries in all major exporting countries, such as Korea, India and China, are also heavily dependent on crude oil imports from the area.
Even by reopening the strait, during the truce between the US and Iran, the problem was not immediately resolved. It takes time for tankers to arrive around the world. Europe received the last known shipment of jet fuel from the Persian Gulf, which left before the start of the war - the journey took several weeks. And that's just transport. In addition, the oil fields and refineries should be restarted, as well as the resulting damage should be repaired.
Photo: AP Photo/Kamran Jebreili, FileDue to the blockade of the Strait of Hormuz, the transportation of oil is difficult
"Europe has about six more weeks of jet fuel left," said Executive Director of the International Energy Agency (IAE), economist and energy expert Fatih Birol.
In a broader interview with the Associated Press, Birol presented the consequences of the current conflicts in the Middle East, i.e. the "biggest energy crisis" the world has ever faced.
He warned that the situation is difficult and that the longer it lasts, the greater the consequences for the global economy and inflation around the world will be.
The crisis is already being felt.
Airlines around the world are already rolling out various measures in response to the looming shortage. The high cost of fuel is forcing them to cut less profitable routes and retire older, less efficient aircraft.
Lufthansa is withdrawing 27 aircraft from its fleet, and has announced additional capacity reductions in its winter flight schedule.
The national airline of the Netherlands is canceling 80 return flights from the airport in Amsterdam, and Air France plans to raise ticket prices. The problems that the Latvian carrier Air Baltic certainly had before the current crisis are now deepening.
Both American companies Delta Airlines and United Airlines are feeling the crisis - increasing baggage fees and reducing the number of unprofitable flights.
Photo: Christoph Soeder/dpa via APAirlines around the world are introducing emergency measures
Problems with high fuel prices are not only affecting traditional airlines.
The low-budget company easyJet announced that its fuel costs increased by almost 29 million euros in March alone.
The aviation portal, Open Sky, reported that in March, Air Serbia announced an increased surcharge for fuel taxes, which will be reflected in the prices of plane tickets.
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