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Sep 16, 1:53 AM
Travel experts are urging consumers planning to fly home for Thanksgiving, Hanukkah or Christmas to book their flights early, as airfares are already rising and higher fuel costs could add further pressure. U.S. airline fares were up more than 23% year over year in August, according to the Consumer Price Index, raising concerns that some travelers could be priced out of holiday trips.
Jet-fuel costs are also moving higher, reaching
$4.32 a gallon as of Sept. 11, according to Platts. That was up 6% from the previous week and nearly 16% from the prior month, increasing airlines’ operating costs and potentially putting additional upward pressure on ticket prices.
With holiday demand typically increasing as the travel season approaches, experts are advising travelers not to wait too long to purchase tickets. The combination of elevated airfares, rising fuel costs and strong seasonal demand could make last-minute holiday travel significantly more expensive.
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