Jet fuel prices near highs amid Strait of Hormuz crisis — MarketWatch
According to MarketWatch, jet fuel prices are holding near their highest levels since the start of the war between the United States and Iran. This situation could become another fuel supply shock linked to the deadlock around the Strait of Hormuz and is heightening concerns over costs for airlines and passengers. The trend is developing amid a broader global fuel crisis.
Demand for diesel and jet fuel
Refineries operating under constraints are struggling to meet global demand for both diesel and jet fuel at the same time. The war and new sources of tension have shaken global markets and caused fuel prices to rise.
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According to the publication, higher fuel costs are causing economic losses for U.S. consumers. The greatest attention recently has been focused on diesel fuel.
Diesel price in the United States
In the United States, the average price of diesel fuel has risen significantly above $6 per gallon. The rise in diesel prices has been in the spotlight, but jet fuel is now also feeling pressure on the market. This is renewing concerns over costs for carriers and travelers.
