Europe is left jet fuel to “six weeks, or something like that,” says Fatih Birol, executive director of the International Energy Agency (IEA).
As he himself told the AP agency, the current scenario raises the risk that air carriers will need to cancel flights “soon”, if the supply of aviation fuel continues to be low. At stake is “the biggest energy crisis we have ever faced”, he pointed out.
At issue is the blockade of the Strait of Hormuz. “The situation is really critical and will have major implications for the global economy,” he highlighted. As the war drags on, “economic growth and inflation” will worsen even further, he pointed out, before giving examples of the direct consequences for companies and consumers.
The scenario will therefore involve “higher gasoline prices, higher gas prices, higher electricity prices”, he added.
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