Rising fuel costs will cause airfare prices to rise in 2019.
Flight prices could increase by 2.6 percent globally, according to a Global Business Travel Association study.
“Airlines are dealing with a rapid run-up on their fuel costs, which is one of their major expenses along with their employee labor,” Dallas Morning News Aviation Reporter Conor Shine said.
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Shine said the price increase should not be enough to keep travelers grounded.
“It will be a gradual increase over the back half of this year and into next year. It’s not going to be one moment where tickets spike up,” Shine said. “Even when they do increase, we are talking about a few dollars or tens of dollars rather than hundreds of dollars.”
It appears that even with the impending price hike, airlines may not be able to raise fares as quickly as they would like.
“It’s harder than just putting a higher price on the fare and hoping people buy it,” Shine said. “There is a sense that the supply is not totally in line with the demand yet and until that happens, it will be hard for airlines to raise fares in a meaningful way.”
With everyone searching for the best deals, the study found that the day of the week you purchase your ticket could affect the price.
North Texas based Expedia issued a study highlighting travel trends. The least expensive day to book a flight is Sunday with the most expensive day being Friday.