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Summer Travel Costs Soar: Will You Fly or Drive?
23 May
Summary
- Airfare in April reached its highest point in nearly four years.
- Gasoline prices are over $4 per gallon and may rise further.
- Jet fuel costs have doubled, impacting airline operational expenses.
Consumers are facing higher costs for summer travel, impacting both air and road journeys.
Domestic round-trip airfares in April averaged $623, marking the highest point in nearly four years. This surge is partly attributed to rising jet fuel prices, which have doubled in less than three months.
Meanwhile, gasoline prices are exceeding $4 a gallon, with further increases anticipated. These elevated fuel expenses represent a significant challenge for airlines, as jet fuel is their second-largest operational cost after labor. Consequently, carriers are increasingly passing these higher costs onto travelers.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
