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Comments (7)
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Save/ShareBook your summer fares now, if at all possible. Experts predict that airfares will keep rising as Mideast turmoil and higher demand for heating oil have driven up fuel prices. The price of jet fuel is already about 50 percent higher now than last summer, says The New York Times. Airlines have responded by hiking prices and fuel surcharges.
To raise money, airlines have hiked airfares five times this year on two-thirds of their routes, Rick Seaney, chief executive of FareCompare.com. It could be a record year for price hikes, he says at his blog.
Domestic fares are 8 percent higher on average this spring than last spring, reports Travelocity. Overseas trips are costing about 10 percent more.
Carriers are also cutting costs. Delta, for example, aims to cut costs by speeding up the replacement of older planes that aren't fuel efficient, says the WSJ.
Yes, you can still save on fares. But follow Budget Travel's advice for the best booking strategies.
Hot tip: Swap the last-minute, price-shopping that may have worked at the height of the recession for a book-sooner-rather-than-later strategy. Read our post: "The threat of rising fares"—especially the helpful tips readers posted in the comments. One reader pointed out, for instance, that airfare may actually cheaper when you book a package with one of the big tour operators, which booked their block of seats on planes last fall when prices were cheaper and they locked in a better rate.
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Not only that, the euro has been soaring against the dollar. If you were fortunate enough to lock in your trip to Europe several months ago, you are getting a good deal.
Posted By Steve from TravelingProfessor.Com on March 3, 2011, 12:21 PM
Good point, Steve!
Posted By Sean on March 7, 2011, 7:40 AM
I know that oil is selling for more because of uncertainty, but have also heard that Saudi Arabia and Iran are pumping more, so it is really not a case of supply and demand, but using the opportunity of Libya and uncertainty to gouge...As prices rise, people will not book, and possibly there will be a drop as we get further into spring. Is this wishful thinking or because I am taking 9 family members to UK this June and did not book yet??? Comments please.
Posted By Jenny on March 7, 2011, 9:33 PM
Hi Jenny,
A trip to the UK with the family sound fun! To keep perspective, life is short. It's difficult to get all family members together on a trip like this, and chances in life for it to happen are few. Go for it this year!
Your logic makes sense, but only part-way. The airlines are stuck with a fixed cost. They've already switched to their smallest transatlantic planes. About 40 percent of flying that plane, filled with passengers or not, is fuel. (They'll put shipping cargo in place of luggage if it's not full.)
But if fewer people visit the UK, the hotels will be emptier, which means those hotels may cut a last minute deal. So look to save on hotels.
That said, it can be difficult to coordinate with 9 people. Try an apartment stay! Example: The giant is holiday-rentals.co.uk
Priceline also has a great group travel service--You don't have to blindly book a room. This is a separate business and has nothing to do with bidding. It's a travel agency type service for group travel. On the Priceline homepage, look in the top right hand corner and click on "Groups."
Best,
Sean
Posted By Sean on March 8, 2011, 2:58 AM
What about popular places like Vegas in July? I was kind of waiting until airlines released deals for July travel (right now most are till the end of June).
Posted By Carrie on March 8, 2011, 1:11 PM
Carrie - I just booked my Vegas trip for August, you should certainly be able to do July. Fares go up and down every day. I found a price drop one afternoon and just booked it. Not taking any chances. People say fares are going up soon for this year. I say if you get a good fare, take it! Have fun in Vegas!!!
Posted By Faith on March 10, 2011, 2:09 PM
Yes, airfares keep going up, that's for sure! A plane ticket to Ireland for this June has risen over $200 in just the past two weeks so I booked it. I have NEVER paid this much for a plane ticket anywhere, ever! But keeping it in perspective, I was able to use my Delta miles to get my husband's ticket to Ireland for just the cost of the taxes. And life is too short...if you can afford it, just do it!
Posted By Tina on March 12, 2011, 3:40 PM