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Rising airfares
Airline ticket prices are sky high and are only getting higher with spring break travel and a jump in the cost of jet fuel.
NEWARK, N.J. - Airline ticket prices are sky-high and are only getting higher with spring break travel and a jump in the cost of jet fuel. Ticket prices are 40% more expensive than they were in January. Estimates show that it will be up 76% this summer.
Right now, domestic airfare costs $330 on average per round trip. Travel website Hopper was not expecting the U.S. air travel market to hit that number until June. Now Hopper says to expect a 10% increase to $360 this summer.
"In the near-term, we expect prices to remain at ~$320-$330/round-trip until the end of April, before rising 10% through May to $360/round-trip," Hopper said in its latest Consumer Airfare Index Report. Following June, airfare should seasonally decline into the fall shoulder season.
Americans are already paying way more than they're used to. Ticket prices are near a 10-year high. But that isn't slowing travelers down. In fact, travelers are outpacing supply in some instances.
JetBlue has announced it will reduce the number of trips it flies this summer because it can't keep up with staffing all its flights. The airline canceled more than 300 flights this past weekend.
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Airfares continue to rise
Pent-up demand to travel has sent airfares soaring. And Americans aren't dissuaded from paying more.
Most Popular Searches on Hopper.com
Domestic
- New York City
- Las Vegas
- Orlando, Florida
International
- London
- Paris
- Cancun, Mexico
With FOX 5 NY Staff.