Singapore: It will take months for jet fuel prices and supply to normalize, even if the Strait of Hormuz opens and remains open, the chief of the International Air Transport Association (IATA) said on Wednesday, Anadolu Agency reports.

According to Azeri-Press News Agency, the IATA chief highlighted that while crude prices have dropped by about 15% following recent announcements, the restoration of the global supply of jet fuel and other refined products will require more time. This was emphasized during his speech at the IATA World Data Symposium in Singapore.

He further explained that the Middle East plays a critical role in the global supply chain, indicating that the recovery process will not be swift despite the early positive effects on crude prices. He also pointed out the nearly direct correlation between oil prices and airline ticket prices, underscoring the challenge of how long it takes for changes in industry pricing to be reflected in actual revenues.