Why holiday travelers might see unusually high airfares this year

Travelers could be stuck paying high airfares even if oil and jet fuel prices fall. Major U.S. airlines and analysts say fluctuating fuel costs make it hard to plan ahead. Jet fuel prices have risen faster than oil, reflecting higher crude prices and tight supplies. This has led airlines to cut flights and raise fares. Airfares haven’t moved in lockstep with fuel prices, partly due to timing. Airlines plan flights months in advance, and fares can’t change for already sold seats.

Globally, jet fuel prices have surged due to disruptions in refinery production. Airlines have raised fares to offset costs, but relief for travelers seems unlikely soon.

Read the original report at Apnews.