Lufthansa Group will cancel 20,000 short-haul flights through October, saving about 40,000 metric tons of jet fuel. The move comes as jet fuel prices have doubled since the outbreak of the Iran conflict, spiking to over $200 per barrel, and tightening supply for the airline industry. Europe's jet fuel supply has been severely constrained by the war in Iran and the closure of the Strait of Hormuz, cutting most imports. Local output has been falling for nearly two decades due to dozens of refineries closing permanently or being converted to biofuel production. The cancellations are described as uneconomical short-haul flights. The group is pursuing a range of measures to secure supply, including the physical procurement of jet fuel as well as price hedging. Till Streichert, Chief Financial Officer of Lufthansa Group, stated that the package for accelerated implementation of fleet and capacity measures is unavoidable in light of the sharply increased kerosene costs and geopolitical instability. Europe faces increasingly fierce competition from Asia for these cargoes as the crisis first hit Asia with crude supply from the Middle East collapsing, Asian refiners cutting refinery runs, and countries imposing fuel export restrictions to preserve domestic supply.