Africa is among the most exposed regions to both supply \u200bdisruptions and higher prices. Around 70% of jet fuel and kerosene imports to the continent flow via the Strait of Hormuz, according to financial and commodities analytics firm S&P Global.<\/p>\n
<\/p>\n
Since the conflict began \u200cin late February, shipping of fuel from refineries in the Middle East through the Strait of Hormuz has almost ground to a halt, removing roughly a fifth of global oil and liquefied natural gas supplies from the market.<\/p>\n
<\/p>\n
“You fly to airports across Southern, West and East Africa and you negotiate prices on arrival,” Jannie de Klerk, Executive Director of Flight Operations at South Africa\u2019s National Airways Corporation, a charter business which also includes air ambulance services, told Reuters<\/em>.<\/p>\n <\/p>\n “By the time you get there, the \u200bprice has changed. If the war continues, availability will become a problem. The instability of (jet fuel) prices makes it very challenging to move around.”<\/p>\n <\/p>\n De Klerk cited a recent return flight from Lanseria to Cape Town \u200bvia St Helena to collect a medical emergency patient, where jet fuel prices jumped by $0.355 a litre to $1.41\/litre within 10 hours between the outbound and return \u2060legs.<\/p>\n <\/p>\n “We now have to be very careful of how far ahead you quote for jobs, otherwise you can quote short and lose money instead of making money,” he said.<\/p>\n <\/p>\n Jet fuel prices in north\u2011west Europe have surged to record \u200bhighs near $239 a barrel since the conflict began, according to London Stock Exchange Group data. Asian jet fuel prices are approaching $200 a barrel, close to recent records.<\/p>\n <\/p>\n –Reuters–<\/p>\n","protected":false},"featured_media":29438,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-29437","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Airlines are grappling with soaring jet fuel prices as the United States (US)-Israeli war on Iran has caused a supply shortage, leaving consumers facing surcharges and airlines struggling to manage volatile costs as the fuel gets scarcer.","published_date":"","news_description":"Airlines are grappling with soaring jet fuel prices as the United States (US)-Israeli war on Iran has caused a supply shortage, leaving consumers facing surcharges and airlines struggling to manage volatile costs as the fuel gets scarcer.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/29437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/29437\/revisions"}],"predecessor-version":[{"id":29439,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/29437\/revisions\/29439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/29438"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=29437"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=29437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}