The UK government said there are no immediate concerns over domestic fuel supplies, including jet fuel, despite mounting global pressure on energy markets linked to the Middle East conflict.
Chancellor (Finance Minister) Rachel Reeves said the UK remained confident about current fuel availability following discussions at the International Monetary Fund meetings in Washington, even as international agencies warn of ever tightening supply. The reassurance comes as the International Energy Agency has indicated that Europe could have as little as six weeks of jet fuel reserves before stocks fall to levels that risk shortages and flight disruption.
The comments highlight a potential gap between the UK’s near-term supply position and broader concerns across the aviation sector. At the beginning of April, reports were circulating that the UK would be facing jet fuel shortages around early- to mid-May if the vital Strait of Hormuz was not opened to all traffic carrying energy products. As of April 17, the Strait remains closed.
In response to the crisis, airlines across Europe have already begun adjusting schedules, cutting capacity and raising fares in response to higher fuel costs.
While the UK is a net exporter of petrol, it remains reliant on imports for other refined products, including jet fuel, leaving it exposed to international market volatility. The UK has recently turned to the US for jet fuel imports as supplies from the Middle East have been choked off.
Last week, industry sources told Airline Economics that the fuel situation at Heathrow Airport was stable with no immediate shortages on the horizon.
Officials said the government is closely monitoring developments and preparing further energy policy measures, including potential changes to North Sea production, as it seeks to mitigate the impact of sustained high fuel costs on the economy and aviation sector.