Airfares On The Rise As Fuel Prices Soar

CHICAGO (CBS) — Airfares are on the rise in Chicago and across the country, as fuel prices are hitting their highest level ever for this time of year.

As CBS 2’s Kris Habermehl reports, oil prices affect not only gasoline prices for terrestrial travelers, but also kerosene prices for airline passengers. Since commercial jet planes gobble up hundreds and even thousands of gallons of fuel, that extra cost is typically passed along to customers.

As of now, airlines are expected to charge between $4 and $20 extra for round-trip tickets. While that might not seem like that much of a difference from the consumer perspective, in aggregate for the airlines it will amount to millions of dollars nationwide.

Oil prices fell to near $90 per barrel Thursday, as Chinese inflation figures suggested authorities need to do more to slow growth and investors awaited a weekly report on U.S. crude inventories.

Still, that price is very high compared with the average for this time of year.

(TM and © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS Radio and EYE Logo TM and Copyright 2010 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)

  • Roberta Waker

    Excuses, excuses, excuses. It’s all BS. The oil suppliers, oil companies and stock exchange traders are making billions. They have the Americans by the proverbial “balls” and we continue to allow it. There is enough crude oil in the Dakotas in the United States to make us independent of overseas crude oil. This oil can supply the American people for 100+ years and eliminate our dependence on oil from other countries. Why aren’t we drilling there???

    • aGREED!!

      All part of Obama’s “green” initiative!!! Remember when they crucified Bush over fuel prices?? Where are ALL those people that complained then?? W T F is wrong with the people of this country!!??

  • Airfares On The Rise As Fuel Prices Soar | Cheap Airline Tickets, Blog Abount Latest News From Airlines Worldwide

    […] Airfares On The Rise As Fuel Prices Soar […]

blog comments powered by Disqus
Daily Weather Reports Delivered To You!SIGN UP NOW: Get daily weather reports every morning from meteorologist Steve Baskerville!
CBS Sports Radio RoundupGet your latest sports talk from across the country.

Listen Live