Lower Oil Prices and More Seats on Planes keep This Summer’s Airfare in Check
Travelers will be at relief this year, as they can expect a slight reduction in terms of air fares for their destinations. This summer, the average roundtrip domestic ticket including taxes stands at $454, which is 1% less than from last year.
But not everyone will be able to save. Flights to Hawaii, Florida and New Orleans will be less costly, but travelers travelling to New York, Denver and San Francisco may have to pay more. In Europe also, the cost would vary depending on the destination.
But overall, the fares are down. Certain places were cost will be more are Amsterdam; London; Budapest, Hungary; Lisbon, Portugal; Frankfurt, Germany or Reykjavik, Iceland. Factors due to which prices are coming down are airlines are now saving a lot of money all credit goes to cheaper fuel prices.
Second reason is more seats have been added into planes. In the starting of the year, airlines paid $2.13 for each gallon of jet fuel, which is 30% down from last year's $3.03, unveiled the Bureau of Transportation Statistics. A day US airlines burn 42 million gallons of fuel a day.
The good news with regard to low fares has come into a report by the Airlines Reporting Corp. In order to come up with a report, the study looked at 4.1 million tickets purchased before March 31 this year and last year for travel between Memorial Day and Labor Day.
For the first three months of 2015, airfares were low. They were down 3.7% domestically and 8.9% internationally. Experts affirmed that though there will moderate relief this summer prices will be still higher than just a few years ago.
It has been said so as the average domestic roundtrip ticket is $13 or 3% higher than what it was in 2012. European trips are $60 more expensive.