Jet Fuel Supply Chain Collapses as Hormuz Closure Chokes Global Imports

Jet fuel prices hit record highs as the Iran war chokes the Strait of Hormuz, forcing African and European airlines to implement emergency surcharges and cut capacity.

By: AXL Media

Published: Mar 21, 2026, 11:14 AM EDT

Source: Reuters

The African Exposure

African aviation is currently the most vulnerable sector globally due to limited refining capacity and high import dependency.

The Price Shock: In South Africa, fuel prices at coastal airports rose 70% in one week. Charter operators report prices changing by as much as R6 ($0.35) per liter within a single 10-hour flight window.

Operating Costs: Jet fuel now accounts for 50%–55% of direct operating costs for carriers like FlySafair, compared to a global average of 25%.

Dwindling Reserves: * Zambia: 10 days of stock remaining.

South Africa: 3–4 weeks of stock.