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U.S. markets recover from steep losses
NEW YORK, April 18 (UPI) -- Rising fuel costs and a stronger economy could push the average airfare up 15 percent this summer for U.S. flyers, a travel expert said.
"We are definitely getting higher and higher and higher fares. They've been going up once or twice a month, a nickel here and a dime there," the Los Angeles Times quoted Tom Parsons at BestFares.com as saying.
Parsons said the cheapest available a round-trip ticket from Los Angles to Frankfurt, Germany, for early May was $1,067 this year, compared to $499 for the same week two years ago.
Airlines are pointing to fuel costs as the primary reason for the frequent price increases. Jet fuel costs 49 percent more than it did 12 months ago, the newspaper said.
"At the end of the day, airlines are trying to keep pace with the rising cost of doing business," said Steve Lott, a spokesman for the Air Transport Association.
The average price for a ticket on a domestic flight could reach $390 this summer, up from $302 in the summer of 2009, industry forecasters said.
Experts said international flights would have the largest price increases.
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