Airlines raise fares as Middle East conflict drives fuel costs higher
Updated
Updated · CNBC · May 2
Airlines raise fares as Middle East conflict drives fuel costs higher
9 articles · Updated · CNBC · May 2
As of 20 April, average round-trip fares reached $361 domestically and $1,097 internationally, with international prices up 42% since 23 February.
Experts say travellers should book sooner if prices fit their budget, as jet fuel has surged about 82% to $4.56 a gallon and airlines are also adding surcharges, baggage fees and schedule cuts.
The conflict, which began on 28 February after US and Israeli attacks on Iran, disrupted oil flows through the Strait of Hormuz, and analysts say even a near-term de-escalation may take months to ease fares.
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