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1 revisions for "The $4.56 Gallon: How a Strait of Hormuz Shutdown Sent Jet Fuel to Record Highs and Put Airlines on a Countdown Clock"

Anonymous5 days ago

Jet fuel prices at the U.S. Gulf Coast hit $4.56 per gallon on March 20, 2026 — surpassing both the 2008 oil shock and 2022 post-pandemic peaks — after Iran's closure of the Strait of Hormuz removed roughly 20% of global oil supply from the market. Airlines have already canceled thousands of flights, abandoned fuel hedging has left major U.S. carriers fully exposed, and the IEA's record 400-million-barrel reserve release has so far failed to bring prices back to pre-crisis levels.