Chevron warns jet fuel crunch deepens

Chevron Chief Executive Mike Wirth said on April 27 that the aviation squeeze “will probably get worse over the next few weeks” as jet fuel tightens in Europe and Asia. (foxbusiness.com) Wirth said inventories were already seasonally low before the conflict, and reduced flows through the Strait of Hormuz left airlines facing a physical supply problem, not just a price spike. (foxbusiness.com) (kpler.com) Kpler estimates the Hormuz disruption cut off nearly 21% of global seaborne jet-fuel supply, with Europe losing almost 300,000 barrels a day of imports. (kpler.com) That is why carriers are changing schedules, carrying extra fuel from home bases and adding refueling stops instead of treating this like a routine oil-price shock. (marketscreener.com) In the U.S., the average jet-fuel spot price reached $4.19 a gallon on April 24, up from about $2.50 before the conflict began in late February. (airlines.org) (foxbusiness.com) United Airlines Chief Executive Scott Kirby said on April 22 that ticket prices may need to rise 15% to 20% to offset the fuel surge. The airline also said it would cut about 5% of planned capacity this year. (usatoday.com) (foxbusiness.com) Delta Air Lines has trimmed its growth plan by about 3.5 percentage points, and European airlines have already been cutting flights as summer demand approaches. (foxbusiness.com) (npr.org) European officials are now discussing jet-fuel stockpiles and redistribution rules if shortages deepen, a sign the issue has moved from airline budgeting into energy-security planning. (yahoo.com) The travel-rule backdrop is separate, but it adds friction. The European Union says its Entry/Exit System started first in October 2025, while the ETIAS pre-travel authorization is expected in the last quarter of 2026, not at the border today. (travel-europe.europa.eu) For airlines, the immediate problem is still fuel: less supply, higher costs, fewer seats and a summer schedule that looks harder to keep intact each week. (foxbusiness.com)