Airline Fares Climb Up, Up And Away
With the turmoil in the Middle East, fuel costs are rising faster than they have in the past 15 years! Airline fares increased 6 percent in May and that’s the steepest one-month increase since 1999, according to a report released by the Bureau of Labor Statistics.
With fuel costs on the rise against a backdrop of unrest in Iraq, some travel experts are saying prices are not likely to come down soon, if ever! The question many everyday Americans are wondering is how much higher are air fares likely to go this summer?
Energy related news is not encouraging. George Hobica, founder of Airfarewatchdog.com doesn’t think the airlines will take the hit because they are already realizing very slim profits. Instead, Hobica thinks the prices of airline tickets will continue to soar up, up and away.