business / news / / The Sunday Times
The UK is particularly vulnerable to shortages of jet fuel caused by the Iran war.
Goldman Sachs warns the UK may face jet fuel rationing due to critical inventory shortages.
KEY POINTS
- Closure of the Strait of Hormuz has doubled jet fuel prices since February 28 and cut seat capacity.
- UK holds no strategic reserves of jet fuel, relying almost entirely on risky Middle East imports.
- Grangemouth refinery will close in April 2025, further reducing UK jet fuel production capacity.
- Suppliers forecast fuel disruptions for UK airlines could begin by mid to late June without change.
COMPANIES
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