Higher Fuel Costs Threaten to Send Airfares Skyrocketing in 2011

Via Jaunted comes this piece of not good news:

Now the economy is slowly recovering, and so oil prices are threatening to shoot back up. Oil import costs have skyrocketed roughly 300% over the last few months, and of course those costs get passed on to the companies that use fuel, at which point they get passed on to the rest of us. In the airline industry that means not just higher ticket prices, but also higher luggage fees and “just to make up for lost revenue” higher penalties.

Oy.

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Mike Richard
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Mike Richard has traveled the world extensively since 2008. He's camped in the Jordanian desert with Bedouins, tracked African wild dogs in South Africa, and survived a near-miss shark attack in Mexico. He loves the great outdoors, good bourbon, and he (usually) calls Massachusetts home. He also enjoys speaking in the third person.

2 Responses

  1. Dale Henson

    Um, no. Unless by last few months you mean since mid-2004. Todays oil price is $90.41 per barrel for West Texas Intermediate, and around $95 for North Sea crude. Oil is about three times that of early 2004 prices, and about 50% higher than in 2007.
    It’s only 2/3 the price of August 2008 prices.
    I agree there is currently an upward trend, though. But the sky is not falling yet.

    Regards,

    Reply

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