Europe only has six weeks of jet fuel left before shortages arise due to the Iran war, according to the head of a :censored:6:cdd6bbaa89: energy organization. The consequences could be even higher prices.

It is Fatih Birol, CEO of the International Energy Agency (IEA), who warns that there will be flight cancellations “soon” if oil supplies from the Middle East are not restored within the next few weeks.

“I can tell you that we’ll soon be hearing news that some flights from city A to city B may be canceled due to a lack of jet fuel,” he tells AP.

According to Birol, the effect will be “higher gasoline prices, higher gas prices, high electricity prices”—and that some parts of the world will “be hit harder than others.”

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Warnings are also coming in from Airports Council International Europe as well. Last week, the lobby group wrote to the EU’s energy and transport commissioners that the union is three weeks away from shortages.

On Thursday, Dutch airline KLM announced that it will cancel 160 flights over the coming month due to high kerosene prices.

“This concerns a limited number of flights within Europe which, due to rising kerosene costs, are currently no longer economically viable to operate. There is no kerosene shortage,” the company writes.

Reserves Running Out

Since the start of US and Israeli attacks on Iran in February, and the country’s closure of the Strait of Hormuz, prices on :censored:6:cdd6bbaa89: energy markets have been affected. Last week a ceasefire was agreed, but talks to end the conflict failed over the weekend.

The price of Brent crude oil is still over 30 percent higher than before the war. So far, there hasn’t been a direct shortage of jet fuel, as shipments sent before the war have continued to arrive, but the final cargoes have now reached Europe.

According to industry insiders, airports and airlines typically have about six weeks’ fuel supply in normal times. However, the Iran war has dragged on long enough that any extra reserves in the system are now being depleted.

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