By Samuel Gonzalez
The hit to gasoline prices is one of the most visible effects of the war with Iran for millions of consumers in the United States; The second most noticeable is the increase in plane tickets (for the same predominant reason above: the increase in fuel). And although there is a fragile ceasefire truce, the consequences persist and travel remains expensive. Will airline ticket prices go down? There are factors that suggest not, so It would be advisable to book your flights if you plan to leave in the summer.
According to various specialists, It has been predicted that fuel pricesspecifically we are talking about jet fuel, stay elevatedso they invite consumers to book their summer trips as soon as possible. This is without counting the possible increases that arise in the middle of the high holiday season.
“If you haven’t booked for this summer yet, hurry up”urged Henry Harteveldt, airline industry analyst for Atmosphere Be Taught Employees, via CBS News. “Don’t wait for rates to drop. They won’t.”
In fact, Harteveldt encouraged consumers to travel in late summer if they really want to save money on their ticketsthis is because demand decreases and even aircraft fuel prices (turbofuel) tend to be more stable under normal conditions.
The jet fuelwhich typically represents between 25% and 30% of airline operating costs, reached $3.93 per gallon on the Argus index in the United Stateswhich implies an increase of 57% since the attacks on Iran began just two weeks ago. This has caused airlines to transfer that financial burden to travelers.
According to Kayak, The average price of a round-trip domestic flight as of April 13 was $358 dollars18% more, approximately $55 dollars more, than in the same period of the previous year.
The website has also seen a sharp increase in international flights. The price of a round-trip economy class flight from the United States to foreign destinations has risen by an average of $115 dollars over the last year, reaching $1,064 dollars.
Overall, airfares rose nearly 15% in March compared to the same period a year earlier, according to government data. United Airways CEO Scott Kirby stated in an interview last month that The airline has increased its fares between 15% and 20%.
In addition to raising ticket prices, airlines such as Alaska Airways, American Airways, Delta, JetBlue, Southwest Airways and United have increased baggage fees to offset rising fuel prices, while others have attempted to cut costs by eliminating less profitable routes.
In parallel, Various international airlines have also begun to adjust their prices.. More than a dozen companies, including Air Recent Zealand, Cathay Pacific, Qantas and Scandinavian Airways, have announced increases in fares and the application of fuel surcharges, directly passing the increased costs on to the passenger.
In short, it is true that if you schedule your summer trip right now, it will be more expensive than if you had done it before the war; However, you are more likely to save money now than if you wait longer.
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