UK holidaymakers are being warned that both holidays and flights this summer could be in jeopardy if the Iranian war continues.

Already, hundreds of flights have been cancelled across Europe, with fears that cancellations will begin to take place for UK travellers.

Travellers are already facing higher fares because the cost of jet fuel has doubled since the conflict started, leading to airlines passing on the increases to their customers.

There is no evidence for fuel shortages in the European Union at present, but supply issues could occur in the near future, particularly for jet fuels.

Even if the Strait of Hormuz reopens and oil and other cargo begin to move, it will not be enough to return the situation to normal in the short to medium-term. It will allow an initial supply of oil and goods via the ships stuck in the Straits. Still, empty ships will have to return to the Straits to keep products and goods flowing. Ship owners and marine insurance companies have already stated that they will not allow their ships to return to the Persian Gulf if there is any risk that a resolution will only be temporary.

A further problem is that once oil tankers do start to leave the Straits, it will take weeks for the ships to reach their destination refineries, and for the crude oil to be refined into usable products and delivered to end users. It typically takes oil tankers between 17 and 28 days to travel from the Persian Gulf to UK and EU refineries via the Suez Canal.