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Jet fuel prices near a record, and holiday airfares soar : NPR
NPR • • business
Key Points:
- Airfares for the upcoming holiday travel season in the U.S. are expected to be the highest in years, driven primarily by soaring jet fuel prices that have nearly doubled compared to last year.
- Thanksgiving airfares have increased by about 30%, and Christmas tickets are up more than 20%, yet demand remains strong as travelers prioritize traditional holiday trips despite higher costs.
- U.S. airlines report limited consumer resistance to rising fares, with executives describing airfare as still "reasonably affordable," though some industry experts predict even steeper increases in Europe next year.
- Consumers are responding by booking earlier and shopping around for better deals, but some travelers are opting to drive instead of fly due to the expensive ticket prices.
- The rising costs are placing a financial strain on many travelers, with some expressing concern over affordability, while others feel compelled to pay the higher prices to maintain holiday travel plans.
