Airfare increases typically lag fuel price changes by several months. Gasoline prices are skyrocketing right now, so what about air travel?
“Airfares had gone up anyway due to the increase in demand. They were already going up gradually, but we’re not seeing a big increase like we’re seeing at the pumps,” says Willis Orlando of Scott’s Cheap Flights. to place.
Orlando says airfare prices are up 2-3% due to demand resulting from the pandemic and as we head into the spring and summer travel season.
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“Airfare is getting more expensive and petrol prices are getting worse, so if I have an option, we can just stay home,” says traveler Vasana Purpura. But while Purpura may be paying more to travel the country with her hockey-playing daughter, that’s nothing compared to the rise in airfare prices that could come as airlines raise prices for tickets for travellers, with the aim of covering increased fuel costs.
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“If we see this over $100 a barrel of oil lasting for a few weeks or a few months, I would expect that to start showing up in airfares in mid-summer,” Orlando says.
Those with AAA tell ABC7 News that airline bookings through February are up 200% since last year, but still down 32% since 2019.
A fare hike due to high oil prices would be a blow to airlines which are currently in fierce competition to welcome travelers back.
“I don’t fly a lot,” traveler Robin Kinnel said when we spoke to SFO.
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“I’m starting to travel again,” said Anthony Earl, who travels the world as a missionary.
Right now though, there are deals to be had.
“For the flight, I think there are a lot of opportunities to get out and see the world. I mean today, coming back, the flights were empty. I mean there was nobody on my flights,” said Mark Brodeur who had just arrived from the Maldives when we spoke to him.
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