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Friday, May 15, 2026

All of the airlines cancelling flights and adding charges

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The global aviation industry is in the middle of its worst fuel crisis in years and it’s already claimed its first major scalp.

Since US-Israeli strikes on Iran effectively shut down the Strait of Hormuz in late February, jet fuel prices have roughly doubled, surging from around $85–$90 per barrel to as high as $200–$209 at peak.

Around 20% of the world’s oil and natural gas traverses the Strait, and pre-conflict around 3,000 vessels used it each month — that number now sits at roughly 5% of normal.