Jet Fuel Prices Soar 72% Amid Iran Crisis; India's Air Travelers Face Higher Fares

• The escalating Iran-US conflict in West Asia has significantly driven up jet fuel prices, threatening energy consumers globally.
• India, importing 88% of its crude oil, is vulnerable to the price surge, intensified by the potential closure of the Strait of Hormuz.
• Jet fuel prices in Singapore surged 72% to a record $225.44 per barrel, with spot prices up 140% since February 27.
• The market anticipates a severe shortage, leading Asian refineries to reduce operations and advance maintenance schedules.
• India's Mangalore Refinery and Petrochemicals (MRPL) halted fuel exports, and other Indian refineries are expected to follow.