Hoping to fly to your summer vacation? Plan on opening your wallet a little, perhaps a lot, more than a few months ago.
According to the fare comparison site Hopper, the average round trip ticket is up more than 30% from a year ago, to now just over $330. But that may seem cheap if you've been searching for summer flights, where many are $400 or more.
The biggest reason for rising fares right is the dramatic jump in oil, and therefore, jet fuel prices.
Delta says jet fuel is costing the airline 33% more than at the end of last year, so it recently announced a 10% across-the-board fare hike to cover those costs.
Other airlines are raising fares too.
The second reason for rising fares: Soaring demand for travel.
Scott's Cheap Flights says flights are as full as they were in 2019, pre-pandemic, but fewer planes are in the air.
Airline seats are priced based on demand, and with most flights full, prices are going up up and away.
Hopper says to keep your fare down:
- Avoid flying on Friday or Sunday
- Book 4 weeks in advance.
- Price other airports within a 2 hour drive.
Finally, business travel is starting to return after a two-year pandemic pause and that's increasing demand even more.
As always, don't waste your money.
Note: The following video was uploaded in March 28