"Goldman Sachs has warned that commercial fuel inventories in Britain could fall to 'critically low levels' within weeks, raising the prospect of formal rationing measures that would squeeze airlines, freight operators and the thousands of SMEs that depend on reliable air links to trade with overseas markets."
"The UK is the largest net importer of jet fuel in Europe, and it holds no strategic reserves, leaving commercial inventories as the primary buffer."
"Jet fuel prices have doubled since hostilities erupted on 28 February, while carriers worldwide have stripped some two million seats from this month's schedules in the past fortnight alone."
"IAG, the FTSE 100 parent of British Airways, has confirmed it will pass higher fuel costs through to passengers, conceding that its hedging programme has left it 'not immune' to the volatility."
British businesses are confronting soaring travel costs and disrupted supply chains as the UK faces a jet fuel crisis due to the closure of the Strait of Hormuz. Goldman Sachs warns that commercial fuel inventories may reach critically low levels, potentially leading to rationing. The UK is identified as the most vulnerable European nation due to depleted stockpiles, high dependence on imports, and a weakened refining base. Jet fuel prices have doubled, impacting airline operating costs and ticket prices significantly.
Read at Business Matters
Unable to calculate read time
Collection
[
|
...
]