According to news sites, the price of jet fuel has risen at a furious pace this week. In Singapore, the price of jet fuel rose 72 percent to a record $225.44 per barrel on Wednesday, according to Reuters.
According to Bloomberg, the price of jet fuel in northwestern Europe was $140 a barrel on Tuesday, the highest since the Russian invasion of Ukraine in 2022.
According to Bloomberg’s analysis, fuel costs for Europe’s most important airlines may rise by around 46 percent in the second quarter. In the region’s largest airlines, the unprotected price increase is a total of about 100 million dollars in the second quarter.
Concern about the future supply has grown, as the daily deliveries of approximately 20 million barrels of crude oil and refined products passing through the Strait of Hormuz have been disrupted.
According to Reuters, jet fuel is more sensitive to supply disruptions than other petroleum products because it tends to have lower inventories. It must be stored in special containers.
About the companies of the Helsinki Stock Exchange Finnair suffers from the situation. Liquid there may be additional demand for renewable jet fuel.
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