Europe has enough jet fuel for now. The European Commission insists there are no supply shortages despite escalating Middle East tensions, but rising prices are already forcing airlines to cancel routes they can no longer afford to fly. Brussels is now mapping refinery capacities and stands ready to release emergency stocks if the situation deteriorates.
The European Commission reaffirmed its earlier assessment that Europe is not facing jet fuel shortages despite escalating tensions in the Middle East and concerns over possible supply disruptions linked to the Strait of Hormuz. “EU refineries cover around 70 per cent of jet fuel consumption in Europe,” Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas said at a press conference following the College of Commissioners meeting.
Gulf countries supply only 20 per cent of Europe’s jet fuel, Mr Tzitzikostas stressed — enough to dismiss fears of an imminent crunch. The reassurance echoed one issued two weeks earlier, as markets have remained on edge since the conflict began to escalate.
Grounded by prices, not shortages
Brussels acknowledged that rising prices were beginning to bite. “We basically have a problem with the increase in prices for fuel,” Mr Tzitzikostas said, adding that some airlines were cancelling flights because they were “no longer financially viable.” He nonetheless ruled out mass cancellations ahead of the summer tourist season, describing Europe as a “stable and safe tourist destination.”
Airlines may cancel routes to offset rising costs, but passengers are not left without recourse. Those affected by last-minute cancellations remain entitled to full reimbursement under EU rules.
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Emergency stocks on standby
Mr Tzitzikostas confirmed the Commission was monitoring refining capacity and emergency stocks across member states. The move forms part of wider contingency planning as Brussels prepares for a range of scenarios.
The Commission will map European refining capacities and assess the needs and potential collective measures to ensure that existing capacities operate at full capacity
— Apostolos Tzitzikostas, Commissioner for Sustainable Transport and Tourism
“The Commission will map European refining capacities and assess the needs and potential collective measures to ensure that existing capacities operate at full capacity,” Mr Tzitzikostas said, in line with the AccelerateEU communication issued three weeks ago.
He added that Brussels stands ready to co-ordinate the release of emergency fuel stocks, although this is “not the case now.” “We are working on all possible scenarios,” he said. “If needed, we will even adapt policies and decisions we have taken in order to ease member states, airlines, or any other industry.”
Holding the line
The remarks came amid mixed signals from EU institutions over possible shortages. In mid-April, Fatih Birol, head of the International Energy Agency, warned that Europe could run out of jet fuel within six weeks unless the situation improved.
The Commission pushed back, insisting supply systems were functioning normally. Wednesday’s press conference was its latest attempt to hold that line — while quietly preparing for the possibility that it may not hold.
