Op-Ed: SAF Prices Shouldn’t Rise with Conventional Jet Fuel
Renewed conflict in the Strait of Hormuz is once again driving up fossil fuel prices. For airlines already reeling from the fuel price surge since the Iran War began in late February, the lesson is clear: volatility is the new normal. Conventional jet fuel skyrocketed from $2.50/gallon in mid-February to a peak of nearly $5/gallon in late April in the US, with international markets experiencing even higher spikes. This makes sense, as about 20% of global oil and gas supplies normally flows through the Strait of Hormuz, and that was largely taken off the market.