Airports are canceling flights right now due fuel shortages and fears they will worsen. Airlines are including those in the US are already raising bag fees and other costs trying to pass along the doubling in jet fuel prices to passengers. Meanwhile, the international energy agency’s chief says the current oil crisis is worse than 1973, 1979, and 2022 combined. The thing is, that sounds crazy but sadly it’s not and we’re just now seeing the preliminary effects of Hormuz at the forefront in air travel.

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World losing more barrels of oil each day than in two 1970s crises combined, IEA chief says – video
https://www.theguardian.com/world/video/2026/mar/23/world-losing-more-barrels-of-oil-each-day-than-in-two-1970s-crises-combined-iea-chief-says-video

IEA chief: current oil and gas crisis worse than 1973, 1979, 2022 together
https://www.reuters.com/business/energy/iea-chief-current-oil-gas-crisis-worse-than-1973-1979-2002-together-2026-04-07/

Korean travelers left stranded as Mideast turmoil pushes airlines to slash routes
https://www.koreaherald.com/article/10711811

Jet fuel supply concerns grow as war with Iran drags on, airlines cut flights
https://www.cnbc.com/2026/04/07/iran-war-jet-fuel-airlines.html

Italy Sets Jet Fuel Limits at Some Airports on Supply Gap
https://www.bloomberg.com/news/articles/2026-04-05/italy-sets-jet-fuel-limits-at-some-airports-on-supply-shortage

Delta Increases Checked Bag Charges by Up to $50 After Fuel Costs Rise
https://www.bloomberg.com/news/articles/2026-04-07/delta-air-will-boost-fees-on-baggage-amid-surging-oil-prices

United Airlines hikes checked bag fee by $10 as fuel prices continue to climb
https://www.cnbc.com/2026/04/02/united-airlines-raises-checked-bag-fees-fuel-prices-climb.html

Jet Fuel Spot Prices Over 60 Days
https://www.airlines.org/dataset/argus-us-jet-fuel-index/

Iran War Fallout: Airlines Slash Thousands Of Flights Amid Global Fuel Shortages
https://simpleflying.com/iran-war-airline-flight-cancellations-fuel-shortage/

FRBNY SCE
https://www.newyorkfed.org/microeconomics/sce#/

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