The European Union is considering requiring member states to hold stockpiles of jet fuel, and potentially redistribute those stocks across borders, as concerns mount over a possible aviation fuel shortage tied to the US–Israeli war with Iran, Europe’s energy policy chief told Reuters.
EU Energy Commissioner Dan Jorgensen said the European Commission had on Wednesday proposed measures to address the energy fallout from the conflict, including EU-wide monitoring of refinery output to maximise capacity. Going further — to mandatory jet fuel reserves — “is certainly something we’d consider,” he said.
“We will be able to, if necessary, introduce redistribution tools and other things that we don’t normally do in this sector,” Jorgensen told Reuters. “Normally, we let the market decide, but we can end up in a crisis where it is indeed security of supply that is the problem, and not only prices.”
The EU already requires member states to hold 90 days’ worth of oil and oil product reserves, but jet fuel is not currently part of the mandatory list. The International Energy Agency has forecast that Europe could face jet fuel shortages as soon as June if the region can only replace half of its Middle East supplies.
The proposal follows profit warnings from multiple European carriers, including TUI and easyJet, as the Iran war disrupts long-haul schedules and pushes up fuel costs. Jorgensen said jet fuel shortages were not currently an issue but that a prolonged Strait of Hormuz blockage could cause longer-term challenges.
For Sri Lanka, European aviation stress compounds an already pressured tourism recovery. SriLankan Airlines connects to Europe via Gulf hubs, and airfares have soared roughly 25 percent after the outbreak of hostilities. Sri Lanka’s airports body has separately urged EU intervention on wartime aviation fuel access.
Source: Ada Derana (via Reuters)
