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Jet Fuel Doubles, Lufthansa Cuts 20k Flights, EU Alerts

4/25/2026

41 9 Full Breakdown

Summary

Story summary

Jet fuel prices have doubled since the U.S.–Israel war with Iran, reaching $1,838 per tonne, which prompts airlines to trim schedules.
Lufthansa will cancel 20,000 European short-haul flights through October and SAS will cancel about 1,000 flights in April, saving 40,000 metric tons of jet fuel.
IEA warned Europe has only six weeks of jet fuel reserves, prompting the European Commission to draft a fuel observatory and consider sharing reserves.

History

Historical Context

After OAPEC’s October 1973 oil embargo forced the United States and European carriers such as Lufthansa to slash flights, oil prices jumped from $3 to $12 a barrel—a four-fold rise. The shock spurred the U.S. Strategic Petroleum Reserve and the International Energy Agency, models now echoed in Europe’s draft fuel-reserve plan as airlines again trim schedules amid $1,838-per-tonne jet fuel.

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Story summary

Jet fuel prices have doubled since the U.S.–Israel war with Iran, reaching $1,838 per tonne, which prompts airlines to trim schedules.
Lufthansa will cancel 20,000 European short-haul flights through October and SAS will cancel about 1,000 flights in April, saving 40,000 metric tons of jet fuel.
IEA warned Europe has only six weeks of jet fuel reserves, prompting the European Commission to draft a fuel observatory and consider sharing reserves.

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