Airfare has climbed more sharply than usual this year as the Iran war and a related oil supply shock pushed up jet fuel costs, and travel experts are telling would-be flyers to buy sooner rather than later. [1]
The conflict began on Feb. 28, when the U.S. and Israel launched attacks on Iran, according to the report. [1] It says Iran and the U.S. have blockaded the Strait of Hormuz, a route that carries roughly 20% of the world’s oil supply, and that has driven global oil prices higher. [1]
Airlines are passing those costs on to travelers. U.S. jet fuel rose to $4.56 a gallon as of Wednesday, up about 82% from $2.50 on Feb. 27, according to the Argus Media index cited in the report. [1] CNBC said carriers are raising summer fares largely because of higher jet fuel prices. [1]
Kayak data cited in the report showed the average round-trip domestic airfare at $361 on Apr. 20, up about 8% from Feb. 23 and 19% from a year earlier. [1] Average round-trip international airfare was $1,097, up 42% from Feb. 23 and 14% year over year. [1]
Katy Nastro of travel site Going warned that waiting for the conflict to end could backfire. “Regardless of whether you're looking to travel in two weeks, two months or even looking ahead to fall travel, waiting to buy airfare ... in hopes the conflict will end soon is honestly riskier than some of the fashion choices we made as teens: Our future self is not going to be happy about it,” she said. [1] She added: “If it fits in your budget now, don't put it off.” [1]
For travelers planning summer or fall trips, the report says the practical next step is to book while fares still fit the budget rather than wait for prices to ease. [1]
