Travelers planning last-minute Memorial Day getaways and summer vacations will face significantly higher costs than usual, experts say.
Average airfares are currently up 27% nationwide compared to last year, according to a travel expert at “The Points Guy,” a travel group tracking trends for air travel, ticket booking, and more.
Sky-high fuel costs are driving the increase in ticket prices. The elevated prices are prompting travel experts to advise consumers to adopt proactive strategies to secure more affordable travel options.
Rising oil prices, partly due to the war with Iran, are directly impacting jet fuel costs, contributing to soaring airfare. Clint Henderson, travel expert for “The Points Guy,” confirmed the increase in summer travel expenses.
“We found summer airfares up 27% on average,” Henderson said.
Henderson cautioned that prices could soon see an increase of 30% or more compared to last year in the coming weeks and months.
“Because prices are only going up from here,” Henderson said, adding, “It’s a recipe for disaster as a consumer, you’ve got to outsmart the airlines right now.”
To save money, travelers should be flexible with their dates, considering travel earlier or later than peak times, and opting for days like Tuesday, Wednesday, and Saturday when fewer business travelers are flying. Henderson also advised booking travel now, including for summer, Christmas, and other holidays, because prices are expected to continue climbing.
Booking tools like ‘Paiback’ www.paiback.app or ‘Junova’ www.junova.ai can help travelers track flight prices after purchase. By plugging in a traveler’s confirmation number, these sites may provide trip credits if airfares drop.
Experts say travelers with reward points should consider using those points now.
“They get less valuable when they’re just sitting in your account; use them if you can, especially on some of these more expensive cash fares, and don’t be afraid to open a new credit card to get that signup bonus,” Henderson said.
The high cost of jet fuel, a highly refined product, means that even if global oil conflicts ended today, a significant lag would precede any price reduction.
“Jet fuel is a highly refined product, and it’s not as simple as turning the switches back on. Even if the Strait of Hormuz opened today, we’re looking at a six-month lag potentially to where jet fuel prices come down,” Henderson explained.
Despite a national trend of increasing flight delays and cancellations, Henderson noted that these issues are not all directly linked to current jet fuel prices. However, they could become a factor later if airlines begin cutting routes to save on some fuel costs. For those traveling from Seattle, the market offers some advantages.
“The great thing about the Seattle market is you’ve got two major airlines duking it out, Delta and Alaska,” Henderson said. “And so, a lot of times Seattle gets access to deals that a lot of us in the rest of the US don’t get access to.”
He mentioned that Delta often holds flash sales, prompting Alaska Airlines to respond with its own promotions. Google Flights can also help travelers find cheap flights and destinations, offering email notifications for price drops.
Henderson underscored the urgency for travelers to be proactive with their plans, stating, “It’s like the zombie apocalypse, you have to keep moving or get killed.”
Travelers are encouraged to remain proactive with their booking strategies and travel planning. Jet fuel prices are anticipated to remain elevated for at least six months, regardless of immediate changes in oil markets.
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