Skyrocketing Jet Fuel Costs Propel Airfares to New Heights
Travelers gearing up for holiday trips may want to brace themselves for sticker shock. Jet fuel prices have soared to unprecedented levels, driving up airfares significantly. This trend has left many questioning their travel plans and budgets.
A worker fuels a United Airlines plane at Salt Lake City International Airport in April, 2026. The price of jet fuel, one of airlines’ biggest expenses, is close to an all-time high in the U.S. Justin Sullivan/Getty Images
BALTIMORE — Herb and Latasha Williams recently discovered the soaring costs firsthand when they flew from Dallas to Baltimore/Washington International Airport for a birthday getaway. Their plane tickets were substantially pricier than anticipated, leaving them to reconsider their holiday travel plans.
“I kind of wanted to go somewhere warm. Florida, I’m thinking,” Latasha Williams mentioned. However, after assessing the airfare, she quipped, “Maybe next year. Maybe,” with a hopeful laugh.
Travelers should be ready to pay significantly more for flights this holiday season. The average price of jet fuel in the U.S. hit $4.90 per gallon, marking the highest single-day average of the year, according to Argus. This figure is more than double what it was a year ago.
“Airfares right now are at what we see as a 10-year high because of the high cost of jet fuel,” stated Hayley Berg, lead economist at Hopper. “Airlines have to pass on these super high jet fuel prices in the form of higher fares to consumers.”
Thanksgiving airfares are approximately 30% higher than last year, with Christmas tickets seeing a more than 20% increase, Berg noted. Despite the price hikes, many travelers are still booking their holiday journeys.
Ed Bastian, CEO of Delta Air Lines, remarked on a recent earnings call that although there is “limited resistance” from consumers, they still perceive airfare as “reasonably affordable” even after price increases.
Michael O’Leary, CEO of Ryanair, predicted further fare hikes in Europe, potentially reaching up to 20% next year. The U.S., with its greater oil production capacity, might face slightly lesser increases, yet airlines are still feeling the financial pinch of rising fuel costs.
“The airlines themselves are eating most of that cost,” said Chris Sununu of Airlines for America in a CNBC interview. “And some of it unfortunately has to be passed on to the customer.”
As a result, consumers are increasingly shopping around for deals and booking flights earlier. “We actually saw an increase in customers booking holiday travel in September,” Berg shared.
At Baltimore airport, some travelers have already decided to skip flying. Rachel Stern of Frederick, Maryland, is opting to drive to her hometown of Chicago, citing the prohibitive cost of airline tickets for her family.
Others, like Mary Haller from Bethany Beach, Delaware, feel resigned to the cost. Despite noticing a “significant” increase in ticket prices for her planned trip to Europe, she acknowledged, “I feel bad for people who don’t have the means to pay the extra money.”
This article was originally written by www.npr.org
