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High Gas Prices Raising Airline Ticket Costs
March 5, 2012 | Hogan Keyser
But now, those looking to get away from it all may encounter further troubles doing so, thanks to gas price hikes that have the potential to curb holiday travel and drive up the cost of plane tickets.
Travel buffs are just beginning to solidify their spring break and summer vacation plans. As they do, comparison shopping may show that such hikes have already started to take their toll on the cost of airfare.
"[R]ising jet fuel costs put significant cost pressure on the airline industry," Steve Lott, vice present of communications for Airlines for America told CBSDC. "Regarding fuel, it was the airline industry's largest expense in 2011, representing 35 percent of total costs. In 2011, the price of jet fuel reached a record high of $3.00 per gallon for the year."
He continued, "It is even higher for the first two months of 2012."
Cynthia Brough, director of public relations for AAA, said that as jet fuel costs go up in tandem with gas prices, the consumer could expect to pay more for their flight.
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