Government issues update over jet fuel stock and ticket prices | Travel News | Travel
Passengers concerned about the possibility of jet fuel shortages have been reassured that there is ‘no immediate cause for concern’. Parliamentary Under-Secretary for Transport Keir Mather confirmed the Government was working with airlines and airports to closely monitor fuel levels and pricing.
Liberal Democrat Eastleigh MP Liz Jarvis put a question to the Secretary of State for Transport. He said: “To ask the Secretary of State for Transport what final assessment his Department has made of trends in jet fuel availability and pricing; what discussions it has had with airlines and industry stakeholders on fuel costs; and what assessments it has made of the potential impact of these factors on passenger airfares.”
Parliamentary Under-Secretary for Transport Keir Mather said in a response on April 17: “The Government is monitoring the impact of the conflict in the Middle East on fuel supplies, including jet fuel. “We have worked with fuel suppliers, airlines and airports to understand jet fuel levels and pricing, in coordination with the Department for Energy Security and Net Zero.
“There is no immediate cause for concern regarding fuel stocks, and speculation will not benefit airlines or passengers. Many airlines fix fuel prices in advance to help protect tickets from price spikes. We encourage all airlines to do what they can to ensure tickets remain fair and affordable for passengers.”
The update comes as European airports trade body Airports Council International (ACI) Europe said earlier: “At this stage, we understand that unless transit through the Strait of Hormuz resumes significantly and steadily over the next three weeks, systemic jet fuel shortages will become a reality for the EU. The fact that we are entering the peak summer season only heightens these concerns.”
Ryanair boss Michael O’Leary also warned of possible disruptions. he said Sky News: “Fuel suppliers are constantly looking at the market.
“We do not expect any disruption until the beginning of May, but if the war continues we face the risk of supply disruptions in Europe in May and June, and we hope that the war will end sooner than that and the supply risk will be eliminated.
“We think there is a reasonable risk that our supplies may be at risk at a low level, perhaps 10% to 25%, throughout May and June, so we hope, like everyone else in this industry, that the war ends as soon as possible. If the war ends by April and the Strait of Hormuz is reopened, then there will be almost no supply risk.”
Following the latest developments, many airlines have received passenger questions on social media about the risk of fuel shortages. reports the mirror. However, airlines have told passengers that they will be notified if there are any changes to their bookings.
Last week a Government spokesman said: “We continue to engage with British airlines to support their operations in a war-torn environment in the Middle East and limit the impact on passengers. Many airlines pre-purchase aviation fuel to offset price fluctuations, but we recognize the impact this will have on businesses and are working with international allies to see the Strait reopen as soon as possible.”
