Airfare expected to increase by 7% each month due to higher fuel prices

JACKSONVILLE, Fla. — With far fewer COVID restrictions in place, this summer is expected to be big for travelers. Many families had to put plans on hold because of the pandemic, and now many are itching to get out of the house. However, it’ll cost more.

Tina Hart flew into Jacksonville International Airport (JIA) from Dallas on Wednesday. While she used credit card points, for her friends, prices were high.

“I did use points, though, to travel. But my friends that were just buying, it was crazy,” Hart said. “I felt bad for them.”

Hart said their end destination is Daytona, but the group chose to fly into JIA because it was cheaper.

“If people are booking or they are planning on booking their trip, do it as soon as possible,” Omar Kaywan said. He is the co-founder and vice president of Growth for Goose Insurance. “For people who are planning on traveling this summer, first of all, book your tickets in advance,” Kaywan said. “Make sure you protect yourself with travel medical insurance and travel insurance.”

Kaywan said company research shows airfare prices are expected to jump an average of 7% each month, thanks to higher fuel prices. Not only will you be paying more for a flight, but experts predict you’ll have fewer options to choose from. Kaywan said staffing shortages are forcing some airlines to cut their flights by 12%.

“We are, unfortunately, expecting for the availability of flights to be less,” Kaywan said. “Some airlines have already consolidated.”

Kaywan adds that you should make sure you give yourself time between connecting flights and don’t schedule a flight too close to when you need to be back at work. This is just in case there are cancellations or delays.

“Also, be very careful in terms of how and what type of fair you purchase — make sure you understand if it is refundable,” Kaywan said. “Make sure you understand the type of fare you’re purchasing.”

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