.jpg)
The war in Iran has created a jet fuel crisis in Europe as carriers there have slashed flights and raised ticket prices amid warnings that fuel could simply run out in the coming weeks.
But in the U.S., various factors, including domestic oil production, have largely insulated travelers from such shocks. Still, airlines and passengers — especially those who travel long distances — are bracing for a wave of higher costs.
“The U.S. economy appears to be healthier than some economies in Europe right now,” said airline and travel industry analyst Henry Harteveldt, adding that “Europeans are feeling the financial pain of this war when it comes to their petrol prices and air fares slightly more than Americans.”
Indeed, European carrier Lufthansa announced last week it was cutting 20,000 flights in the coming months. The top transportation official for the European Union warned that countries may be required to hold stockpiles of jet fuel for regional redistribution. Earlier this month, the head of the International Energy Agency said Europe had “maybe six weeks or so of jet fuel left,” though Harteveldt said that estimate may not be as dire as originally predicted.
