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Sunday, December 22, 2024

Skyrocketing fuel prices could affect airfares: 'I can’t tell you what’s going to happen tomorrow'

Airplane

It is unclear how much rising fuel prices will affect airfares this summer. | Pixabay

It is unclear how much rising fuel prices will affect airfares this summer. | Pixabay

Anyone who has gone to the gas station to fill up lately knows that higher prices are probably affecting their driving habits.

What is less clear is what the broader fallout will be. As the summer travel season approaches, airfares are one area of concern.

“I can’t tell you what’s going to happen tomorrow, much less next week or next month,” Tiffany Wright, a spokesperson for American Automobile Association (AAA) of the Carolinas, told CBS 17 News.

That said, if you expect fuel prices to keep going up and you plan on flying anywhere this summer, some experts suggest buying your tickets now rather than risk waiting to see what happens.

“When we talk about airline tickets, the price of jet fuel is already factored in, you know, and if you bought your ticket already, your price is already locked in,” Wright told CBS 17 News. That, however, doesn’t mean things won’t change quickly.

Something to consider doing as you make your vacation plans is, sit down and calculate how much it would cost you in gasoline to drive, then check the airline rates. 

Depending on what kind of car you drive and what your destination is, it’s possible that flying might be less expensive. The number of people traveling makes a difference, too. Another thing is, if you’re planning a trip that’s more than a day’s drive away, you shouldn’t forget to factor in the cost of hotel stays and meals on the road.

Even though Wright was hesitant to make a prediction, she said higher airfares are expected, and the industry has already bumped up fares for overseas flights.

Air travel bookings are up this year, Wright said, as people are becoming more confident in flying again, now that the COVID-19 pandemic seems to be waning. That strong demand might even contribute to higher airfare in the future.

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