Rising Cost of Traveling by Plane

airplaneI love travelling.  That is the one thing I like to splurge on.  I was born and lived my childhood in Mexico so I specially love travelling back to my hometown at least once a year.  In September, I’m getting married in Mexico so something that I have followed closely has been the cost of plane tickets.  What use to cost me around $250 round trip has spiked up to more than $500 in 5 months!

While browsing USA Today, I found an article talking about the rising cost of oil and its future effects on the air travel industry.

But with today’s unprecedented jet fuel prices, airline executives and aviation analysts are warning that only extreme fare increases and dramatic cutbacks in flights will enable the industry to cover a 2008 jet fuel bill the airlines’ trade group projects will be 44% higher than last year’s.

By this time next year, there could be as many as 20% fewer seats available if carriers respond to oil prices well above $100 a barrel by cutting as many flights as securities analysts such as JPMorgan’s Jamie Baker are suggesting…

 This is something that I’m monotoring carefully.  Unfortunately, I don’t see plane tickets dropping back to what they use to be.  What I’m looking for is a stabilization of prices.  It looks like I will have to be reconsidering travelling more than once a year by plane or finding ways to cope with the increase in prices.

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